Pfizer, Hydra strike $195M pain pact

Cambridge, MA-based Hydra Biosciences has struck a deal with Pfizer Global Research & Development to collaborate on new pain therapies. Hydra stands to gain up to $195 million in up front and milestone payments--there's no breakdown on the numbers--for the first product developed from the Transient Receptor Potential channel family. Pfizer will fund all research and development work and gains exclusive commercialization rights to any product developed in the collaboration.

"We have distinct capabilities in rapid ion channel assay development and high throughput screening, we employ the 'gold standard' in characterizing all viable compounds, and we are building a particular expertise in chemistry," said Hydra CEO Russell Herndon. "Driving this franchise is a deep pipeline of programs advancing through development in a variety of pain indications, renal disease, pulmonary dysfunction, and hypertension."

- here's the release on the deal

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