Flexion announces deals with major pharmas
Flexion Therapeutics announced agreements with four major pharmaceutical partners, acquiring the rights to four clinical-stage compounds, and gaining investment from the world's biggest pharmaceutical company.
An investment from Pfizer's Venture Capital group closed Flexion's Series A financing round at $42 million, Woburn-based Flexion said in a press release.
The agreements include deals with AstraZeneca and Merck Serono, a division of Merck KGaA. Financial terms were not disclosed, but the agreements include milestone payments and royalties if the compounds are successful, Flexion's press release added.