Pfizer enter diabetes agreement

Two diabetes companies have entered into a new agreement to research and license treatments for diabetes and cancer .
Pharmaceutical giant Pfizer Inc. have partnered with FivePrime Therapeutics to collaborate on developing treatments for the two diseases. FivePrime will screen their protein library with the intention of finding therapeutic protein products and targets for antibodies.
In return for this work FivePrime will accept an upfront payment and equity investment, as well as three years of commitment to research funding . Pfizer will hold exclusive global rights to develop and commercialise some of the products and targets created by the research.
Many big pharmaceutical companies hold exclusive research and development agreements with smaller scale biotechnology or therapeutics firms working in the same field. The opportunity allows smaller companies to grow, whilst providing larger companies with the potential to develop new products and expand their diabetic drug pipeline.