July 6, 2020 / 8:11 AM / a month ago

BRIEF-Mission Therapeutics Says Raises $15 Million, Expands Relationship With Pfizer

July 6 (Reuters) - Mission Therapeutics:

* MISSION THERAPEUTICS SAYS RAISES $15 MILLION AND EXPANDS ITS RELATIONSHIP WITH PFIZER

* HAS RAISED $15 MILLION IN EQUITY INVESTMENT; ROUND WAS LED BY EXISTING INVESTOR PFIZER VENTURES

* MISSION, PFIZER HAVE EXPANDED THEIR RELATIONSHIP BY ENTERING INTO EVALUATION AND OPTION AGREEMENT FOR DUB TARGET VALIDATION

* PFIZER TO ACCESS SPECIFIC DUB INHIBITORS FROM CO’S PLATFORM, TEST THESE COMPOUNDS IN PHENOTYPIC SCREENS TO VALIDATE PROMISING DRUG TARGETS

* PFIZER WILL THEN HAVE OPTION TO NEGOTIATE TARGET EXCLUSIVITY FOR EACH OF DUBS OF INTEREST

* AGREEMENT DOES NOT INCLUDE ANY OF MISSION’S OWN LEAD DUB PROGRAMS, SUCH AS USP30 Source text for Eikon: Further company coverage:

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