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Under the terms of the agreement, Adolof (NASDAQ:ADLR), of Exton, Pa., will receivwe a $30 million upfront payment from Pfizetr and the potential to earnanother $232 contingent upon achieving undisclosex development and regulatory milestones. The most advanced of two productxis ADL5859, which is in midstagr development as a treatmengt for inflammatory pain associatefd with rheumatoid arthritis and acute post-dental surgerhy pain. The company also plan s to study ADL5859 in patients with diabetid peripheral neuropathyand osteoarthritis. Adolort expects to begin initial humab clinical testing of thesecond ADL5747, in the firsrt quarter of 2008.
The company did not disclose the condition for which the new pain drug candidate will be Pfizer (NYSE: PFE), of New York, also agreed to pay Adoloe $1.9 million for previous clinical trial The partnership calls for Pfizer to securde regulatory approvals and handle commercialization of the products on a worldwidwe basis. Pfizer and Adolor will sharer revenues and expenses undera 60-4p percent split, respectively, in the Unitecd States. Abroad, Pfizer will fund development activitiees and, if the products receive regulatory Adolor will receive royalties on net saleszfrom Pfizer.
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