Pfizer To End Blood Disorder Therapies Deal With Syros

Syros Pharmaceuticals, SYRS.O, says Pfizer, PFE.N, will terminate a licensing 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) which 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 programme,” it added.

Reuters/ Mercy Chukwudiebere