IT infrastructure solutions and lifecycle services company, Compugen Ltd, announced today that it entered into a deal with drug giant Pfizer Inc.
The deal is based upon a discovery process of certain product candidates for three drug targets of interest to Pfizer. The process, based on Compugen's discovery platforms and funded by Pfizer as part of the "discovery on demand" deal, is expected to take a few months, Compugen said.
Compugen stock was way up at $1.96, or 69 percent, to $4.80. Pfizer stock was up 17 cents, or .9 percent, to $18.78.
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