Gene Logic receives milestone payment from Pfizer for drug repositioning

GAITHERSBURG, Md. Gene Logic has reached a collaboration milestone, triggered by the filing of a patent application for a new use of an existing Pfizer drug candidate to treat solid tumors. Gene Logic’s Drug Repositioning Division discovered the new use for the unapproved drug candidate.

Under its drug repositioning agreement with Pfizer, Gene Logic has been seeking new therapeutic applications for selected drug candidates that are no longer in active development. The terms of the agreement provide for payment by Pfizer to Gene Logic of success-based milestones per compound and royalties on the commercialization of drugs whose repositioning results from Gene Logic’s Drug Repositioning Program. Gene Logic will receive a small initial milestone payment as a result of the filing of the patent application.

“We are pleased to see our Drug Repositioning Program yielding potentially valuable intellectual property for Pfizer. Our goal is to apply our drug repositioning capabilities to complement our partners’ internal pipeline development efforts,” Charles L. Dimmler, III, Gene Logic’s chief executive officer and president, said. “By finding new indications for de-prioritized, clinical stage drug candidates, our partners have another route to build value in their pipeline. We consider the filing of this patent application by Pfizer to be a substantive validation that our systematic approach to drug repositioning is working effectively.”