Oxford Gains Payment From Pfizer As PF-06263507 Enters Clinical Trials
Oxford BioMedica has reported that a US$1mn milestone payment from Pfizer has been triggered by the entry of PF-06263507, a 5T4-targeted investigational antibody (Ab) therapy, into human trials.
Under the terms of the agreement with Pfizer, Oxford licensed global rights to develop Abs targeting the 5T4 tumour antigen for the treatment of cancer to Wyeth (acquired by Pfizer in 2009) in 2001. Pfizer also has non-exclusive rights for the diagnostic use of 5T4 Abs, including an option for commercialisation of a 5T4-based diagnostic. The potential value of Oxford's collaboration with Pfizer is worth up to an additional US$27mn, which comprises future milestone payments and licence option fees that are subjected to the achievement of certain project objectives.
PF-06263507 is a humanised monoclonal Ab linked to a potent anticancer agent. The product binds to the 5T4 antigen on the surface of cancerous cells. Once bound, the complex is internalised by the tumour cell, the anticancer agent is released from the Ab, and the free drug kills the cancerous cell. The Phase I trial for PF-06263507 is under way.