Pfizer and Karo Bio have entered into a research collaboration agreement to discover and develop novel small molecule RORgamma modulators for the treatment of autoimmune diseases. Pfizer will provide full funding for the research costs and have the exclusive right to market any products that may be developed as a result of the collaboration. Karo Bio may receive as much as $217 million in upfront and milestone payments in addition to potential royalty fees. The nuclear hormone receptor RORgamma...