Renovis entered into a valuable agreement with Pfizer for R&D and commercialization of small molecules targeting vanilloid receptor VR1. Yet on the same day, Renovis’ share price plummeted. The deal is clearly an important boost for Renovis and helped to prevent fall of share price as well. Besides, the VR1 program will benefit greatly from Pfizer’s resources, where the compounds could potentially be developed that the loss-making Renovis would be unable to exploit alone.