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The Associated Press April 7, 2010, 12:55PM ET

MicuRx, Cumencor sign development deal with Pfizer

Biotechnology companies MicuRx Pharmaceuticals and Cumencor Pharmaceuticals said Wednesday they are collaborating with Pfizer Inc. to develop antibiotics for drug-resistant tuberculosis in China.

Under the deal, New York-based Pfizer will provide an upfront payment, funding for the discovery and preclinical development of antibiotics, and payments linked to the development and commercialization of any antibiotics developed through the partnership.

Financial details of the deal were not disclosed.

Cumencor Pharmaceuticals, based in China, is applying MicuRx's technology to develop antibiotics. MicuRx is based in Hayward, Calif.

Pfizer shares added 11 cents to $17.07 in midday trading.

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