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Medivation wins potential $725M deal with Pfizer

September 04, 2008
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Pfizer Inc. will pay $225 million upfront in a development and commercialization deal for San Francisco-based Medivation Inc.’s late-stage Alzheimer’s disease and Huntington’s disease treatment, according to Medivation could receive up to $500 million if it hits development and commercial milestones with the drug, Dimebon.Medivation and Pfizer will collaborate on an international Phase III program for patients with mild to moderate Alzheimer’s disease, as well as for Huntington’s disease. They will share all U.S. development and commercialization costs along with U.S. profits and losses on a 60-40 basis. Pfizer will assume the larger share of expenses and profits/losses. Dimebon is an oral drug that has shown the ability to inhibit brain cell death in preclinical models that are relevant to Alzheimer’s and Huntington’s. It also has been shown to stimulate the outgrowth of nerves from brain cells, or neurites, a process that is believed to play an important role in restoring or generating new brain cell connections.
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