Pfizer exercises options on Philogen ADCs

US pharma giant Pfizer (NYSE: PFE) has exercised options granted under the agreement established in December 2014 with privately-held Italian biotech firm Philogen for the potential development and commercialization of multiple antibody drug conjugates (ADCs).

"We are delighted to confirm that the exploratory phase of the initiative to combine Philogen's validated antibodies with Pfizer's extensive chemistry capabilities has transitioned to the licensed phase," commented Duccio Neri, Philogen's chief executive. Adding: "This agreement with Pfizer supports the industry's mounting interest in ADCs technologies."

"This next phase of the agreement with Philogen reflects Pfizer's commitment to advance ADC technologies and underscores their potential to accelerate the delivery of innovative new medicines for cancer patients," said Robert Abraham, senior vice president and head of Pfizer's Oncology-Rinat Research & Development Group.