Discovery Partners announces chemistry collaboration with Pfizer
Discovery Partners International, Inc. has entered into a multi-year agreement with Pfizer Inc to develop and produce libraries of high purity chemical compounds to be used in Pfizer's drug discovery programs.
The estimated potential value of this 4-year collaboration may reach $95 million. Specific financial terms were not disclosed. Discovery Partners and Pfizer will collaborate to design and develop custom libraries of drug-like compounds that will be exclusive to Pfizer. Discovery Partners will then manufacture and purify the compounds to high purity standards using its proprietary ARW purification technology.
"Pfizer is a premier pharmaceutical research organization renowned for innovations in medicine and we are delighted to have been selected to assist them in this major program," said Riccardo Pigliucci, Chairman and CEO of Discovery Partners. "We have been collaborating with Pfizer for several years and this agreement underscores our ability to work closely with our customers in research and development and reaffirms Discovery Partners' leadership in the drug discovery collaboration field."
The duration and scope of this collaboration enhances Discovery Partners' ability to anticipate consistent revenue streams and allows the company to reaffirm its fiscal 2002 financial guidance for revenue growth in the 25% range.
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