Collaboration To Identify Small Molecule VR1 Antagonists

The VR1 receptor is a member of a related group of ion channel proteins known as the transient receptor potential (TRP) family that mediates and influence cell signaling. Inhibitors of VR1 are predicted to be useful in the treatment of pain, urinary incontinence, and other diseases and disorders.

The agreement between Renovis (San Francisco, CA, USA) and Pfizer (New York, NY, USA) provides Renovis with research funding through June 30, 2008 and reflects the goal of Pfizer and Renovis to advance multiple, small molecule VR1 antagonists toward clinical development. Under the terms of the extension, Pfizer will continue to fund all aspects of the collaboration, including the research and preclinical development efforts at Renovis. Other terms of the collaboration and licensing agreements between Pfizer and Renovis have not been changed.

We partnered our VR1 program with Pfizer in June 2005 at a preclinical stage because we believed that safe and effective antagonists of VR1 could potentially address major medical needs in multiple therapeutic areas and we wanted to work with a partner capable of aggressively pursuing this broad potential with us, stated Corey S. Goodman, Ph.D., president and CEO of Renovis. Since then, the collaboration has produced its first advanced candidate, which we expect to enter human testing in 2007, as well as several other small molecule VR1 antagonists that we hope to advance into IND-enabling studies and clinical development with Pfizer during the term of this extension.

VR1 antagonists represent an enormous opportunity to help large numbers of patients who are poorly served by existing therapies, added Michael G. Kelly, Ph.D., senior vice president of research and development. We are strongly committed to doing all that we can with Pfizer to deliver on this promise.

For the year ending December 31, 2007, Renovis has updated its financial guidance as previously announced in conjunction with its results for the year ended December 31, 2006, to give effect to the extension of its collaboration with Pfizer. The company now expects: total contract revenue from existing agreements of US$5.3-$9.8 million; and total operating expenses of $28.0–$32.0 million, excluding non-cash, stock-based compensation.

Renovis is a biopharmaceutical company focused on the discovery and development of drugs for major medical needs in the areas of neurological and inflammatory diseases. The company's proprietary research programs focus on purinergic receptors for the potential treatment of pain and inflammatory diseases. In addition, Renovis has a worldwide collaboration and license agreement with Pfizer to research, develop, and commercialize small molecule vanilloid receptor (VR1) antagonists, and a research and development collaboration with Genentech to discover and develop anti-angiogenesis drugs and drugs that promote nerve re-growth following nervous system injury.


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