Direvo, Pfizer to Collaborate on Therapeutic Proteases

German drugmaker Direvo Biotech has signed an agreement with Pfizer to develop therapeutic proteases for different targets as potential treatments for various diseases.

Under the terms of the agreement, Direvo will discover preclinical candidates, and Pfizer will develop the compounds.

Direvo said it will receive payments upon reaching certain R&D milestones and royalties for any product reaching the market.