Pfizer Inks Deal With GlycoMimetics

Pfizer has licensed GlycoMimetics’ GMI-1070 molecule, which FDA has designated an orphan drug and given fast-track status. Based in Gaithersburg, Md., GlycoMimetics is testing the rationally designed selectin antagonist as a treatment for vaso-occlusive crisis, or restricted blood flow to organs, associated with sickle cell disease. Although the genetic and molecular causes of sickle cell disease have been known for decades, therapy for the painful crises has not significantly advanced, according to the companies. After GlycoMimetics completes a Phase II trial now under way, Pfizer will take over further development and commercialization and pay as much as $340 million, including an up-front fee and milestone payments.