Miami-based OPKO Health has partnered with pharmaceutical giant Pfizer to develop and commercialize an OPKO treatment for growth-hormone deficiency that could replace daily injections with weekly ones, the companies announced Monday.
OPKO will receive an upfront payment of $295 million and would receive up to an additional $275 million if its treatment, hGH-CTP, meets certain regulatory approvals. OPKO will lead clinical activities and fund initial development activities. Pfizer will then lead commercialization and manufacturing globally for the treatment, which it said would be complementary to its existing Genotropin growth-hormone treatment.
“We believe that the global growth hormone market is currently valued at more than $3 billion, and believe that hGH-CTP has the potential to be the best in class long-acting growth hormone product,” said OPKO CEO Phillip Frost in a Wall Street Journal report.
The drug, used for growth deficiency in adults and children and growth failure in babies born small who fail to catch up by age 2, is in a Phase 3 trial for adults and a global Phase 2 trial in children, the report said.
Digital Access For Only $0.99
For the most comprehensive local coverage, subscribe today.