Formycon is not alone in the intravitreal anti-VEGF biosimilars space. San Diego-based Pfenex signed a collaboration agreement last year with Pfizer subsidiary Hospira for PF582, its Lucentis biosimilar candidate. Pfenex expects to undertake its pivotal clinical comparator trial for PF582 this year. The Pfizer collaboration netted Pfenex an up-front payment of $51 million and milestone payments valued at up to $291 million as well as tiered double-digit royalties on net sales of PF582. Pfizer is responsible for the clinical comparative trial and the companies will share the costs of the trial 50/50 up to a cap for Pfenex of $20 million, with $10 million of that offset as a credit against royalties.