Pfizer signs deal w/Cellectis for Immunotherapy Drugs - $80MM UPFRONT
NOTHING in PH1 PH2 or PH3!!
1 in preclin
11 in discovery
(Reuters) - U.S. drugmaker Pfizer, which failed last month in a $118 billion bid to buy AstraZeneca, said on Wednesday it had signed a deal with French biotech Cellectis to develop immunotherapy drugs in cancer.
The news sent shares in Cellectis surging 50 percent higher, valuing the company, which was founded in 1999, at around 195 million euros ($264 million).
Boosting the body's immune system to fight tumours is a hot area for drug research and was one of the factors that attracted Pfizer to Britain's AstraZeneca - along with the potential to cut costs and taxes.
The technology used by Cellectis involves reprogramming immune system cells to hunt out cancer and represents a different approach to that used by drugs under development at AstraZeneca.
The French company's research is still at an early stage but it hopes to start clinical trials in 2015, initially with a drug for leukaemia that it has already partnered with unlisted pharmaceuticals group Servier.
Under the new deal, Cellectis will receive an upfront payment from Pfizer of $80 million, as well as funding for research costs.
The French biotech firm will also be eligible to get development, regulatory and commercial milestone payments of up to $185 million per Pfizer product, plus tiered royalties on any eventual sales.
Pfizer has exclusive rights to develop products against 15 biological targets for fighting cancer it selects, while another 12 targets can be selected by Cellectis.
"French biotech Cellectis surges as Pfizer signs cancer drug deal"
If your trying to prove Daniel J. O’Connor & Gregory T. Mayes value...you just did. By my calculations from your example it is a negative number. In another words, these two clowns just be paying the company for the privilege of walking thru the door each day, although I would prefer they walk into it.
Indeed. I look at everything….I mean everything we got going on….and just SMH. And It would be nice to be invested in a company with sound corporate governance where one wouldn't even have to think twice about approving a reasonable proxy…….well, no need to rehash all the goings on here.
Insiders don't have enough equity yet. Management wants to milk salaries for another few years. I think they've chased away any possible deals. They think they got the best thing out there and think they can act this way now and still close a deal in a couple of years. You trust them? I don't.