Pfizer licenses sickle cell disease therapy from GMI-1070

Pfizer has agreed a new global licensing deal with GlycoMimetics relating to a promising new therapy for vaso-occlusive crisis associated with sickle cell disease.

The company has negotiated an exclusive worldwide rights arrangement to commercialise GMI-1070 both in its current specification and for any other disease areas in which it proves efficacious.

GMI-1070 has been shown in early trials to restore blood flow to affected vessels of sickle cell-afflicted subjects, offering a potential new therapy option for the rare genetic disorder, for which there are limited available treatments.

The deal is worth a potential $340 million (215.71 million pounds) for GlycoMimetics, which will be responsible for completing the current phase II development of the drug before Pfizer takes over.

Yvonne Greenstreet, senior vice-president and head of the medicines development group within Pfizer's specialty care business unit, said: "This experimental compound and partnership are emblematic of our strategy in rare disease, targeting areas of high unmet need to deliver improved patient outcomes."

This comes after the firm licensed its new breast cancer therapy neratinib to Puma Biotechnology last week, as it believes the drug would be better served by being developed externally.