Oxford BioMedica earns Pfizer milestone

28 August 2013

UK, gene-based biopharma company Oxford BioMedica (LSE: OXB) says it has received a $1 million milestone payment from US pharma behemoth Pfizer (NYSE: PFE), which has been triggered by the entry of PF-06263507, a 5T4-targeted investigational antibody therapy, into human clinical trials.

Under the terms of the agreement with Pfizer, Oxford BioMedica licensed global rights to develop antibodies targeting the 5T4 tumor 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 antibodies, including an option for commercialization 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.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK