WaVe Life Sciences is getting a big boost of confidence in the form of its first big pharma partnership with Pfizer for $40 million, most of that in equity at $16 per share of Wave stock.
WaVe gets an option to use Pfizer’s liver targeting technology in drugs it develops independently. All of Wave’s research is focused on rare, genetic diseases.
WaVe is now committed to finding up to 5 drugs for Pfizer to take into the clinic. The pact starts out with two declared targets--including WaVe’s apolipoprotein C-III program--and allows another 18 months for identifying the rest.Future plans include applications to begin human trials of two drugs for Huntington’s disease by the end of this year, and four more chosen from its pipeline of 20 drug programs to enter the clinic by 2018.