Hydra and Pfizer Ink $195M Deal for Pain Drug

Hydra Biosciences announced Thursday that it licensed a pain treatment from Pfizer Global Research & Development in a deal with up to a $195 million value. Under the terms of the agreement, Hydra will receive upfront and success-based development milestone payments totaling $195 million for the first developed product launched, with upside potential for additional approved indications. The agreement focuses on a version of the Transient Receptor Potential, vanilloid 3 (TRPV3), which recent work has indicated may have less off-target effects than similar drugs of its kind. Under t...