US biopharmaceutical company Pfizer Inc (NYSE:PFE) announced on Tuesday that it has entered into a COVID-19 research collaboration and exclusive licence agreement with biotechnology company Clear Creek Bio Inc.

With this agreement, Pfizer and Clear Creek Bio aim to advance the discovery and development of potential inhibitors of the SARS-CoV-2 papain-like protease (PLpro) for the oral treatment of COVID-19. PLpro is an essential enzyme which, along with the main protease (Mpro), plays an important role in viral replication.

According to Pfizer, this will expand its innovative anti-infective pipeline and, if successful, will complement its existing portfolio of COVID-19 products with direct-acting antiviral agents against different SARS-CoV-2 targets.

The two companies will work together to identify a PLpro candidate to progress into the clinic, at which time Pfizer will be solely responsible for further development and commercialisation activities.

Clear Creek Bio will receive an undisclosed upfront payment from Pfizer and will be eligible to receive additional potential milestone payments plus royalties on future product sales.