Pfizer Terminates its License Agreement with GlycoMimetics Signed in 2011

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• On Feb 05, 2020, GlycoMimetics received notice for termination of its license agreement signed on Oct 07, 2011 from Pfizer due to failure of its P-III RESET study to achieve 1EPs & 2EPs in patients with SCD experiencing VOC aged ≥6yrs.
• On termination, Pfizer will lose rights to develop & commercialize licensed therapies including rivipansel and will grant a non-exclusive license to GlycoMimetics to utilize Pfizer’s IP, developed in connection with licensed therapies
• Glycomimetic will not incur any termination penalties as a result of the termination of the license agreement. Rivipansel is an investigational therapy for VOC in people with SCD, act by inhibiting selectin interactions and reduces the enhanced cell adhesion that resulted in VOC

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