The new collaboration will bring together Wave’s proprietary antisense and RNAi capabilities with GalNAc and Pfizer’s hepatic targeting technology, which provides enhanced drug delivery to the liver.
Wave, a preclinical genetic medicine company, uses its proprietary synthetic chemistry drug development platform to design and commercialize stereopure nucleic acid therapeutics that target genetically defined diseases’ underlying causes.
Per the agreement, Wave will advance up to five programs from discovery to clinical candidate selection, after which, Pfizer has the option to exclusively license the programs for further development and commercialization.
The two targets which have already been agreed upon include Wave’s Apolipoprotein C-III program. The remaining targets will be confirmed in the next eighteen months.
The company currently has more than 20 discover programs focused on identifying candidate leads and anticipates three investigational new drug (IND) filings by approximately the end of 2016 and early 2017.
Pfizer paid $40m upfront and if the five potential targets are successfully commercialized, Wave may earn up to $871m.
Beyond the collaboration Wave may also use Pfizer’s hepatic targeting technology, which it has received rights to as part of the deal, in order to purpose other hepatic programs.
“We are excited about this collaboration with Pfizer, which will enable us to combine Wave’s innovative platform capabilities with Pfizer’s metabolic development and commercialization capabilities with the goal of making meaningful medicines for patients,” said Paul Bolno, M.D., MBA, President and CEO of WavevLife Sciences.
“This alliance is consistent with Wave’s strategy to build and advance a portfolio of medicines for neurological and neuromuscular diseases, while working with partners with deep expertise in other important therapeutic areas. We expect that our existing cash together with the upfront payment will enable us to fund our operating expenses and capital expenditure requirements into 2019.”