Pfizer Starts Partnership for Increased Cancer Study
Pfizer Starts Partnership for Increased Cancer Study [The Day, New London, Conn.]
From Day, The (New London, CT) (October 28, 2010)
Oct. 28--Pfizer Inc. has reached agreements to boost research on cancer treatments and antibody drugs, the company announced Wednesday.
New York-based Pfizer, which has major research facilities in Groton and New London, has signed a pact with MacroGenics of Rockville, Md., to use a new technology called Dual-Affinity Re-Targeting to discover, develop and commercialize two specific types of cancer. The specific cancer targets were not revealed, and while MacroGenics said it would receive an upfront fee, along with milestone payments and royalties from Pfizer, it did not specify the amounts involved.
"MacroGenics’ DART candidates represent a promising new approach to potentially expand treatment options for cancer patients, and we look forward to a collaborative partnership with MacroGenics," said Pfizer research-and-development chief Mikael Dolsten in a statement.
Pfizer also will be working with San Francisco-based Ablexis to use the biotech company’s antibody drug discovery technology.
"Pfizer, along with four other unnamed companies, are paying at least $1 million each upfront to Ablexis to the right to its transgenic mouse technology," according to a report in the online site www.xconomy.com.
Ablexis, in a release, said five of the top 15 global pharmaceutical companies have formed an Ablexis-Pharma consortium. If the expected results are delivered, Ablexis will receive at least $55 million from the five member companies.
"Entry into the consortium required a non-refundable seven-figure payment by each consortium member," the company said. "Upon delivery of the AlivaMab Mouse strains, Ablexis is entitled to receive an eight-figure payment from each consortium member in return for granting specified non-exclusive rights to utilize the technology in antibody discovery programs."
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Posted: October 2010
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