Cytos and Pfizer in vaccine deal

Source: Healthcare Digital

Date :15/08/2008 14:40:38

Cytos Biotechnology AG said Friday, August 15, it has teamed up with Pfizer Inc to develop vaccines designed to stave off diseases in humans.

The Swiss biotech company will receive an upfront payment of CHF150 million and potential further milestones, Schlieren-based Cytos said.

It did not disclose which diseases the new partnership targets, or how many.

Cytos shares were up by 9.2 percent at CHF57.00 by 0815 GMT.

The deal also comprises manufacturing technology transfer fees and Cytos will be eligible for research funding and royalties on net sales of products, the company said.