Oxford BioMedica has signed an amendment to broaden its licensing agreement with Pfizer regarding the development of therapeutics which target the company’s 5T4 tumour antigen for the treatment of cancer.
The amended deal 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 $4 million in milestone payments, plus “future revenues from further commercialisation.”
The original pact with Wyeth (which was acquired by Pfizer in 2009), was signed in 2001 and included the exclusive, global right to market antibodies targeting the 5T4 tumour antigen for all human cancer indications. Prior to the amendment, the potential value of the agreement for Oxford BioMedica was $24 million, plus royalties and the next milestone payment would be due if Pfizer initiates clinical trials.
John Dawson, chief executive at Oxford BioMedica, said the extension “reiterates Pfizer’s continued commitment to develop product strategies to target” the 5T4 tumour antigen.
