Oxford BioMedica gains $1 million Pfizer pay-out
pharmafile | August 29, 2013 | News story | Research and Development, Sales and Marketing | Cancer, Oxford BioMedica, Pfizer, TroVax
Oxford BioMedica has been granted a $1 million milestone payment from partner Pfizer as it begins human testing for a new targeted cancer therapy.
The payment to Oxford BioMedica, the UK, Oxford-based gene specialist company, has been triggered by the entry of PF-06263507, a 5T4-targeted investigational antibody therapy for solid tumours, into Phase I testing.
Under the terms of the agreement with Pfizer, Oxford BioMedica licensed global rights to develop antibodies targeting the 5T4 tumour antigen for the treatment of cancer in 2001 to Wyeth (acquired by Pfizer in 2009).
Pfizer also has non-exclusive rights for the diagnostic use of 5T4 antibodies, including an option for commercialisation of a 5T4-based diagnostic.
The potential value of Oxford BioMedica’s collaboration with Pfizer is worth up to an additional $27 million, which comprises future milestone payments and licence option fees that are subject to the achievement of certain project objectives.
John Dawson, chief executive of Oxford BioMedica, said: “The 5T4 tumour antigen is an important target for novel anti-cancer therapeutics and the cancer targeted therapies market represents a significant opportunity. We look forward to the future progress of PF-06263507.”
According to Datamonitor in 2010, the cancer targeted therapies and immunotherapy market was $19.5 billion in 2009, forecast to increase to $36.8 billion in 2019.
Oxford BioMedica has had mixed fortunes in recent years after its cancer vaccine TroVax failed to meet its primary efficacy endpoint in Phase III trials in 2009, with the Data Safety Monitoring Board stating that overall survival improvement would not be increased. It was originally indicated for colorectal, prostate and renal cancers.
But the firm took TroVax back to the drawing board and re-started development – it is now undergoing Phase II trials, in combination with first-line chemotherapy agents pemetrexed and cisplatin, to treat patients with malignant pleural mesothelioma.
Ben Adams
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