HAYWARD, Calif. and SHANGHAI, April 6 MicuRx Pharmaceuticals, Inc., a biopharmaceutical company dedicated to the development of antibiotics to treat drug-resistant bacteria, and Cumencor Pharmaceuticals, Inc. today announced that the companies have entered a collaboration with Pfizer (NYSE: PFE) to discover novel therapeutic agents to treat multi-drug resistant tuberculosis (MDR-TB). Cumencor Pharmaceuticals is a China-based biotechnology company applying MicuRx's proprietary technology platform to discover and develop novel antibiotics for MDR-TB.
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Under the terms of the agreement, Pfizer will provide an upfront payment, funding for the discovery and preclinical development of novel antibiotics to treat MDR-TB, and payments linked to the development and commercialization (including royalty payments on sales) of any antibiotics developed through the collaboration. All collaboration research will be conducted at the ZhangJiang High-Tech Park in Shanghai, China.
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"We are extremely pleased to join forces with Pfizer, a world-class pharmaceutical company that has developed numerous successful antibiotics to treat infectious disease worldwide," said Zhengyu Yuan, Ph.D., President and Chief Executive Officer of MicuRx. "With the rapid increase of MDR-TB incidence in the emerging markets including China, we believe that it is critical to pursue development of new therapeutic options for patients suffering from this devastating disease around the world."
"MicuRx's novel approach to developing antibiotics for the treatment of drug-resistant bacteria and their existing technology, know-how and expertise provide the basis for this collaboration," said Steve Yang, Ph.D., Vice President and Head of Pfizer's Asia Research and Development organization. "We expect that any compounds resulting from the collaboration will complement our portfolio of anti-infective agents and build our global presence in the emerging pharmaceutical markets of Asia and beyond."
About Multi-Drug Resistant Tuberculosis (MDR-TB)
Tuberculosis is a contagious bacterial infection that primarily affects the lungs, but may also infect other organs. Due to improper use of antibiotics or incomplete treatment regimens, resistance to currently available therapeutics is growing at an alarming rate. Today, the World Health Organization estimates that China accounts for more than 25% of all worldwide cases of MDR-TB. Because of insufficient supervision and lack of adherence to therapeutic TB regimens, MDR-TB is nearly twice as common in China when compared to the rest of the world. MicuRx and Pfizer are working together to develop new antibiotics to combat MDR-TB.
About MicuRx Pharmaceuticals, Inc.
MicuRx is discovering and developing novel antibiotics to combat infections due to resistant bacteria. Positioned to capture the benefits of United States research and development expertise together with China's abundant scientific talent and cost-effective discovery, preclinical and development, the company has built a pipeline of drug candidates for the treatment of gram positive, gram negative and fungal infections. MicuRx expects to begin a phase I trial for its lead compound MRX-I for the treatment of drug-resistant MRSA and VRE in 2010. The company has research and development facilities in San Francisco Bay Area and Shanghai, China.
SOURCE MicuRx Pharmaceuticals, Inc.
