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Agreements

Date: 2011-05-04

Type of information: Licensing agreement

Compound: therapeutic products which target the Oxford Biomedica’s proprietary 5T4 tumour antigen

Company: Oxford Biomedica( UK) Pfizer (USA- NY)

Therapeutic area: Cancer - Oncology

Type agreement:

licensing

Action mechanism:

Disease:

Details:

Oxford BioMedica has signed an amendment to broaden its licensing agreement with Pfizer 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.
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 $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.

Financial terms:

Oxford BioMedica will receive additional proceeds of up to $4 million in upfront, development and commercial milestone payments, in addition to revenues from further commercialisation.

* On August 28, 2013, Oxford BioMedica has announced that a $1 million milestone payment from Pfizer has been triggered by the entry of PF-06263507, a 5T4-targeted investigational antibody therapy, into human clinical trials. 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.
 

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