Auxilium Pharmaceuticals has scored a rich partnership pact with Pfizer for Xiaflex, a late-stage drug for the treatment of Dupuytren's contracture and Peyronie's disease. Malvern, PA-based Auxilium nets $75 million upfront, $410 million in potential development, regulatory and sales milestones. In exchange, Pfizer gains the marketing rights to the drug in 46 European and Eurasian countries.
Auxilium's partner, BioSpecifics, will receive $6.375 million of the $75 million upfront payment paid to Auxilium by Pfizer, as well as 8.5 percent of the $410 million in potential additional milestone.
Descendants of northern European countries face a high risk of Dupuytren's contracture--excessive collagen buildup in the hands--a painful and progressively disabling condition. Auxilium has completed late-stage trials for that disease and expects to seek FDA approval next year. Pfizer says it will likely seek a European approval in 2010. The drug is in mid-stage trials for Peyronie's disease.
"Pfizer and Auxilium have forged a compelling partnership and together we believe we have the opportunity to offer the first, effective non-surgical treatment for (the) two diseases," said Armando Anido, president and CEO of Auxilium. "With the strength of Pfizer's commercialization and development organization, this relationship greatly enhances our ability to effectively introduce this potentially groundbreaking technology for the treatment of Dupuytren's contracture and Peyronie's disease in Europe."
- read the Pfizer/Auxilium release
- see what BioSpecifics had to say