NEW YORK, Nov. 25 (GenomeWeb News) -
Tripos said last week that Pfizer will not renew a four-year file-enrichment collaboration that began in 2001.
Tripos received around $90 million over the project, in which it designed, synthesized, and purified a library of drug-like compounds for the pharmaceutical firm. The collaboration will end next month.
The wind-down of the agreement has had a negative affect on Tripos' revenues for the past two quarters. In October, John McAlister, president and CEO of Tripos, warned analysts that "there is no guarantee that we will continue to work with Pfizer" beyond 2005.
Last week, McAlister said in a statement that Tripos remains "committed to our Discovery Research business," but added that "a reorganization of Tripos Discovery Research may be necessary."
He said that the company will "carefully review staff levels to ensure we can continue to deliver the highest-quality service without impacting our existing and developing collaborations."
McAlister added that the company's discovery informatics business "is not impacted by the Pfizer file enrichment contract completion, and existing informatics contracts with Pfizer are unaffected."