Pfizer and ChemRar High Tech Center Announce Plans to Explore Innovative Medical Research and Development Partnership in Russia
Collaboration focused on addressing unmet medical needs of patients in cancer, cardiovascular, central nervous system, and other major therapeutic areas that impact the Russian population
WASHINGTON--(BUSINESS WIRE)--Jun 29, 2011 - Pfizer Inc. (NYSE: PFE) and the Russian pharmaceutical investment and R&D group ChemRar High Tech Center (ChemRar) announced today that they have signed a Memorandum of Understanding (MoU) to explore a collaboration focused on research, development and commercialization of innovative drugs in Russia and other countries. The announcement was made during the BIO International Convention.
The two companies will explore opportunities for accelerated development and commercialization of certain innovative compounds from Pfizer's pipeline, through technology transfer and out-licensing deals with venture funding. Through this arrangement, Pfizer and ChemRar plan to develop innovative compounds and vaccines to treat patients with cardiometabolic, infectious and oncology diseases, which are a high priority for the Russian Federation healthcare system.
Under the terms of the MoU, the two companies can further collaborate with other potential partners, including the Moscow Institute of Physics and Technology, the Skolkovo Foundation and other members of the Russian Biopharmaceutical Cluster “Northern,” created under the Federal Target Program of the Ministry of Industry and Trade of the Russian Federation. In addition, the companies can establish a shared-risk platform for several Pfizer R&D programs designed to achieve clinical candidates and proof of concept in the clinic.
“We see Russia as a potential leader in the innovative pharmaceutical, biotechnological and nano-technological areas,” said David Simmons, President and General Manager, Emerging Markets and Established Products, Pfizer. “The Pharma 2020 Strategy driven by the Russian Government creates favorable conditions for transition of the Russian pharmaceutical industry to the innovative development model, and Pfizer is excited to be a part of these new opportunities.”
“Considering the importance of international partnership to our Government's vision for Russian business, the expertise of leading pharmaceutical companies such as Pfizer is very important. Agreements such as this are critical to developing the applied sciences and university research in Russia, within the global market environment. We hope our partnership will also help create a belt of small innovative businesses within the Biopharm Cluster “Northern” initiative created under the auspices of the Moscow Institute of Physics and Technology and fully supported by the Ministry of Industry and Trade of the Russian Federation,” says Andrey Ivaschenko, Chairman of the Board, ChemRar.
To expedite cooperation Pfizer and ChemRar will create an Expert Committee, which will include specialists with a high level of experience and expertise.
The partnership with ChemRar is an important component of Pfizer's broader strategy in Russia named “MORE THAN,” which is designed to contribute to the modernization of the national healthcare system, extended life-expectancy, lowered mortality rate and a better quality of life for all Russians. More Than is designed to create value for the Russian people through progressive partnerships aimed at the modernization of the pharmaceutical industry, accelerating the development of medical innovations, and improving access to medicines and better healthcare.
As part of its investment strategy in Russia, in March 2011 Pfizer announced the agreement with Russian biopharmaceutical company Petrovax Pharm to manufacture Pfizer's innovative pneumococcal vaccine in the Moscow region, as well as the June 2011 launch of the capability building program MORE THAN EDUCATION in partnership with Saint-Petersburg, St. Petersburg State Chemical-Pharmaceutical Academy and the Russian biotechnology company Biocad. Pfizer and its partners look forward to contributing to the creation of medical innovations, further modernization of the Russian pharmaceutical industry, improving the national healthcare system and delivering better health and quality of life to Russian citizens.
Pfizer Inc.: Working together for a healthier world™
At Pfizer, we apply science and our global resources to improve health and well-being at every stage of life. We strive to set the standard for quality, safety and value in the discovery, development and manufacturing of medicines for people and animals. Our diversified global health care portfolio includes human and animal biologic and small molecule medicines and vaccines, as well as nutritional products and many of the world's best-known consumer products.
Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as the world's leading biopharmaceutical company, we also collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on us.
Non-commercial partnership ChemRar High Technology Center is a unique complex of research, production and investment facilities operating in the fields of development and commercialization of innovative medicines for treatment of cardiovascular diseases, endocrinology, infectious diseases, oncology, and CNS diseases both in Russia and abroad.
ChemRar Ventures is a Russian venture company managing the diversified portfolio of investment into innovative biotechnological and biopharmaceutical companies.
About BPC “Severny”
Biopharmaceutical cluster “Severny” is an association of the Moscow Institute of Physics and Technology with small innovation companies operating with the support of the Ministry of Industry and Trade of the Russian Federation, Moscow Region Government, Administrations of the cities of Dolgoprudny and Khimki. BPC aims at the creation of a belt of small innovation enterprises and corporate laboratories around the Moscow Institute of Physics and Technology in the field of “living systems”. Apart from High Tech Center ChemRar and the Moscow Institute of Physics and Technology, BPC includes such companies as “Akrikhin”, “Pharmstandart”, GC “Protek”, FGUP NPTs “Pharmzaschita”, etc.
PFIZER DISCLOSURE NOTICE: The information contained in this release is as of June 29, 2011. Pfizer assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.
This release contains forward-looking information about a Memorandum of Understanding (“MoU”) between Pfizer and ChemRar and Pfizer's strategy in Russia, including their potential benefits, that involves substantial risks and uncertainties. Such risks and uncertainties include, among other things, whether and when Pfizer and ChemRar will enter into a definitive agreement establishing a collaboration, as well as the risks and uncertainties inherent in research and development, including whether and when any drug application will be submitted in Russia for any potential product candidates, decisions by regulatory authorities in Russia regarding whether and when to approve any such potential drug applications as well as their decisions regarding labeling and other matters that could affect their availability or commercial potential; competitive developments; general economic, political, business, industry, regulatory and market conditions; and the other risks and uncertainties set forth in Pfizer's Annual Report on Form 10-K for the fiscal year ended December 31, 2010 and in its reports on Form 10-Q and Form 8-K.
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Contact: Pfizer Russia
Irina Gushchina, +7 495 258 55 35, #406
Andrew Widger, +441737 330909
Raul Damas, 646-915-4062
Olga Dmitrieva, 858-794-4860
Posted: June 2011