21 July 2023 | Friday | News
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In exchange for exclusive rights to a Riparian preclinical program, Pfizer will make upfront and milestone payments, as well as pay royalties on sales of resulting therapeutics. As part of the research agreement, Pfizer will support Riparian's efforts to discover further drug targets leading to vasoprotection and will have an option on such targets.
"I am incredibly proud of the entire Riparian team and their success translating fascinating science into an innovative therapeutic program," said Will Adams, Ph.D., Riparian chief executive officer and co-founder. "We are excited to collaborate with Pfizer and believe they are the ideal partner to advance this program and develop impactful therapies."
Dr. Zhixiong Ye, CSO of Viva Biotech, said, "Viva has invested in Riparian since September 2018, and we have been collaborating with the Riparian team for a long time on the discovery of novel targets, as well as the design and synthesis of compounds. With years of experience and unique strengths in First-in-class drug discovery and development as well as its one-stop integrated service capabilities, Viva has helped Riparian obtain a quality clinical candidate through the professional leadership of a team of senior scientists."
Dr. Han Dai, CIO of Viva Biotech and Head of Viva BioInnovator, said, "Riparian ultimately accomplished the identification of a novel target and secured a clinical candidate, relying on the founding team's years of in-depth experience in the cardiovascular field combined with Viva's strong capabilities in drug discovery and development. The patent transfer and R&D collaboration with Pfizer further demonstrate the potential value of Riparian's pipeline and are another successful case of Viva's EFS business for licensing transactions, which once again demonstrates Viva's rigorous and professional investment strategy and post-investment management support capabilities. We look forward to the future development of Riparian in the cardiovascular field with the strong cooperation between the two companies."