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Baltimore biotech Gliknik, Pfizer sign accord

Gliknik Inc., of Baltimore, a biotech that develops novel molecular treatments for autoimmune/inflammatory diseases and cancer, said it has entered into an exclusive worldwide licensing agreement with drug-making giant Pfizer Inc. for its pharmaceutical candidate, GL-2045, a potential treatment for a variety of autoimmune diseases.

Under the terms of the agreement, Pfizer will receive an exclusive worldwide license to GL-2045 for all therapeutic indications.

Gliknik will receive an upfront payment of $25 million and is eligible to receive development, regulatory and commercial milestone payments.

Gliknik is also eligible to receive tiered, double-digit royalties on net sales of any products that are commercialized pursuant to the license agreement.