Pfizer License Extension (8600F)
04 May 2011 - 4:00PM
UK Regulatory
TIDMOXB TIDMPFZ
RNS Number : 8600F
Oxford Biomedica PLC
04 May 2011
OXFORD BIOMEDICA BROADENS 5T4 ANTIBODY COLLABORATION WITH
PFIZER
-- Diagnostic rights secured for Investigational New Drug
application --
Oxford, UK - 4 May 2011: Oxford BioMedica plc ("Oxford
BioMedica" or "the Company") (LSE: OXB), a leading gene therapy
company, today announces that it has signed an amendment to broaden
its licensing agreement with Pfizer Inc. (NYSE: PFE) regarding the
development of therapeutic products which target the Company's
proprietary 5T4 tumour antigen for the treatment of cancer. The
amended agreement grants Pfizer non-exclusive rights for the
diagnostic use of 5T4 antibodies and includes an option for
commercialisation of a 5T4-based diagnostic. Oxford BioMedica will
receive additional proceeds of up to US$4 million in upfront,
development and commercial milestone payments, in addition to
revenues from further commercialisation.
This amendment directly relates to Pfizer's on-going development
of a 5T4-targeted antibody therapy. The original licensing
agreement with Wyeth (acquired by Pfizer in 2009), entered into in
2001, included the exclusive, global right to market antibodies
targeting the 5T4 tumour antigen for all human cancer indications.
Prior to today's amendment, the potential value of the agreement
for Oxford BioMedica was US$24 million, which comprises upfront
payments, license option fees and milestone payments that are
subject to the achievement of certain project objectives.
Additionally, under the agreement, Oxford BioMedica will receive
royalties on sales of products targeting the proprietary 5T4
antigen that are developed and commercialized by Pfizer. The next
milestone payment to Oxford BioMedica would be due if Pfizer
initiates clinical trials.
John Dawson, Chief Executive Officer of Oxford BioMedica, said:
"We believe this extension to the collaboration agreement
reiterates Pfizer's continued commitment to develop product
strategies to target our proprietary 5T4 tumour antigen for the
treatment of cancer."
-Ends-
For further information, please contact:
Oxford BioMedica plc: Tel: +44 (0)1865 783 000
Lara Mott, Head of Corporate Communications
Media Enquiries: Tel: +44 (0)20 7920 2342
Emma Thompson/Amber Bielecka/Katja
Toon
M:Communications
Notes to editors
1. Oxford BioMedica(R)
Oxford BioMedica plc (LSE: OXB) is a biopharmaceutical company
developing innovative gene-based medicines and therapeutic vaccines
that aim to improve the lives of patients with high unmet medical
needs. The Company's technology platform includes a highly
efficient LentiVector(R) gene delivery system, which has specific
advantages for targeting diseases of the central nervous system and
the eye; and a unique tumour antigen (5T4), which is an ideal
target for anti-cancer therapy. Through in-house and collaborative
research, Oxford BioMedica has a broad pipeline and its partners
include sanofi-aventis, Sigma-Aldrich and Pfizer. Further
information is available at www.oxfordbiomedica.co.uk.
2. Targeted Antibody Therapy
The 5T4 tumour antigen is a unique protein found on most common
types of solid cancer, which makes it a potentially valuable target
for novel anti-cancer interventions. The 5T4-targeted antibody
therapy is a humanised monoclonal antibody linked to a potent
anti-cancer 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 anti-cancer agent is released from the
antibody, and the free drug kills the cancerous cell.
3. Pfizer
Pfizer is one of the world's largest research-based
pharmaceutical companies. It has a leading portfolio of products
and medicines that support wellness and prevention, as well as
treatment and cures for diseases across a broad range of
therapeutic areas.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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