Sosei, Pfizer deal

Sosei’s Heptares Therapeutics Ltd. subsidiary granted Pfizer exclusive, worldwide rights to therapeutics targeting up to 10 undisclosed GPCRs in multiple therapeutic areas. Heptares received an undisclosed upfront payment and is eligible for up to $189 million in research, development, regulatory and commercial milestones per target, plus tiered royalties. Pfizer will purchase a $33 million equity stake in Sosei at a 25% premium to Sosei’s average share price over the 20 days prior to the deal’s close, which is expected in December. ...