(Reuters) – Syros Pharmaceuticals said on Friday Pfizer will terminate a license deal between the companies related to the development of novel therapies for two blood disorders.
Shares of Syros were down 5.7% in trading after the bell.
The termination will end the company’s more than three-year long collaboration with sickle cell disease drugmaker Global Blood Therapeutics (GBT) that Pfizer bought in a $5.4 billion deal last August.
The partnership for sickle cell disease and beta thalassemia – diseases that affect the production and nature of hemoglobin in the blood is set to end on Oct. 16, the company said.
Syros “intends to seek to identify a new out-licensing partner for its sickle cell disease program,” it added.
(Reporting by Sriparna Roy and Savyata Mishra in Bengaluru; Editing by Shailesh Kuber)
