Pfizer creates gene therapy unit, strikes Spark deal

Pfizer Inc. (NYSE:PFE) launched a gene therapy unit within its rare disease research area and unveiled a deal with Spark Therapeutics LLC (Philadelphia, Pa.) to develop gene therapies to treat hemophilia B. The pharma hired Michael Linden to lead the new unit. Linden, who will serve a two-year temporary term, is a professor at King's College London and the director of the University College London Gene Therapy Consortium. Pfizer spokesperson Dean Mastrojohn said the company has not yet decided whether to hire a permanent leader.

Spark will receive $20 million up front under the deal, which includes preclinical program SPK-FIX. Spark will be responsible for clinical development through Phase I/II studies and is eligible for up to $260 million in development and commercialization milestones, plus double-digit royalties on hemophilia B treatments covered under the collaboration. Pfizer is responsible for pivotal studies, regulatory submissions and global commercialization. ...