Collaboration Agreement between Monogram (MGRM) and Pfizer (PFE) Extended
Monogram Biosciences, Inc. (Nasdaq: MGRM) announced that its partner Pfizer Inc (NYSE: PFE) has exercised its right to extend the Collaboration Agreement between Monogram and Pfizer.
"The adjustments to our collaboration with Pfizer strengthen the platform for commercialization of Trofile and indicate Pfizer's ongoing support for Trofile, which is the clinically validated method of selecting patients for CCR5 antagonists such as Selzentry," said William Young, Monogram Chief Executive Officer. "We are pleased to be continuing our collaboration with Pfizer outside of the U.S."
Monogram and Pfizer have a collaboration aimed at making Monogram's Trofile assay available on a global basis in support of Pfizer's commercialization of Selzentry. The agreement has an initial term that ends on December 31, 2009 and Pfizer has five separate options, exercisable annually, to extend the agreement by one year. With today's announcement Pfizer has exercised the first of these options to extend the agreement through December 31, 2010. Through this collaboration Pfizer and Monogram make Trofile available outside of the U.S.
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