Boston, MA 06/20/2014 (wallstreetpr) – Pfizer Inc. (NYSE:PFE) and Cellectis on June 18, 2014 announced that the two entered into global strategic collaboration for development of Chimeric Antigen Receptor T-cell (CAR-T) immune-therapies in Oncology field. Chimeric Antigen Receptor T-cell shall be directed at the select targets only. CAR-T platform technology of Cellectis offers an allogeneic and proprietary approach for development of CAR-T therapies, which remain different from various other autologous approaches.
Terms of Agreement
- As per the agreement between the two companies, Pfizer Inc. (NYSE:PFE) got the exclusive rights for pursuing development as well as commercialisation of CAR-T therapies which will be directed towards 15 targets in all, selected by Pfizer only.
- Pfizer Inc. and Cellectis will work in collaboration for the preclinical research, but the former shall remain accountable for development as well as potential commercialisation.
- Apart from this, 12 targets shall be selected by Cellectis.
- Pfizer Inc. and Cellectis will together work towards preclinical research on the four selected targets of Cellectis. The latter will work independently on eight of its selected targets.
- Cellectis will undertake clinical development as well as commercialisation of the CAR-T therapeutics at only Cellectis-selected targets.
- Pfizer Inc. enjoys the right of first refusal to four selected targets of Cellectis.
- An upfront payment worth $80 million will be given to Cellectis. It will also receive funds for research and development costs that are associated with the Pfizer-selected targets along with four selected targets of its own.
- As per the terms of the agreement, Cellectis is eligible for receiving development, regulatory as well as commercial milestone payments till $185 million per Pfizer product.
- Cellectis will also be eligible for receiving the tiered royalties on the net sales of those products which will be commercialised by Pfizer.
- Cellectis might also commence a U.S. site for working closely with the Pfizer scientists.
Statement from the MD, PhD, President of R&D at Pfizer
The MD, PhD, President of R&D at Pfizer Inc. (NYSE:PFE), Mikael Dolsten said that the leading immuno-oncology collaboration aims to deliver immune-therapies and is built on the advanced genome editing and cell engineering capability of Cellectis as well as latest biotherapeutic cancer therapy platform of Pfizer.
He added that the combination of scientific expertise and innovation of Cellectis with deep oncology and immunology experience of Pfizer will help in creation of top-notch partnership for catering to the CAR-T immunotherapies needs of urgent medical needs of the cancer patients.
