Pfizer tests new way to trial more drugs

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Pfizer has backed a new drug development company with the task of shepherding four of its experimental medicines through clinical trials, in an unusual deal designed to prevent promising products from languishing on its laboratory shelves. 

SpringWorks launched on Monday after securing $103m of funds from investors including Bain Capital, the private equity group, Orbimed, the biotech investor, and Pfizer, which has taken a minority stake in the group. 

Freda Lewis-Hall, Pfizer’s chief medical officer, said the pharmaceutical group conceived of the new company as a way of ensuring medicines do not end up being shelved, a common problem at large drugmakers that often unearth more molecules than they want to develop. 

 “If you think about today’s rapid pace of scientific breakthroughs, we simply have more leads than we can follow,” she said. “These compounds are exciting, but no one can do it all by themselves.” 

The phenomenon whereby big pharma torpedoes encouraging drugs has long bedevilled the industry. In recent weeks GlaxoSmithKline, Lilly, AstraZeneca and Teva Pharmaceuticals have announced they are abandoning some programmes to sharpen their focus on core areas.  

Pfizer is licensing four of its medicines to SpringWorks, including two that are ready to enter the final “Phase 3” round of clinical trials. (Más)