TransTech pact with Pfizer worth $155M

TransTech Pharma of High Point, NC has inked a licensing deal with Pfizer that's worth a minimum of $155 million in up-front payments and near-term milestones. The deal covers the worldwide rights to compounds that target the receptor for advanced glycation end products (RAGE) and have potential use in the treatment of Alzheimer's disease. The most advanced molecules are TTP488, an orally available small-molecule compound that has completed a Phase IIa study in Alzheimer's patients and is currently in a Phase II study in patients with diabetic nephropathy, and TTP4000, a large-molecule compound that is expected to enter Phase I clinical trials before the end of 2006.

"We believe this transaction has the potential to be among the largest of its kind in recent years," said TransTech founder Adnan M. Mjalli, Ph.D. "Pfizer's deep commitment in multiple therapeutic areas coupled with their broad expertise and experience in the development and commercialization of new medicines, especially for the treatment of central nervous system diseases, were significant factors in our decision to go with Pfizer as the partner of choice to advance our current portfolio of RAGE inhibitors in a variety of potential indications."

- see the release on the deal