Issue Date: April 21, 2008
Pfizer licenses therapeutic vaccine
Pfizer has taken an exclusive worldwide license to a therapeutic cancer vaccine being developed by Avant Immunotherapeutics. Under the deal, Pfizer will pay Avant $40 million upfront and make a $10 million investment in the Needham, Mass.-based biotech firm. Avant could receive milestone payments of more than $390 million. The vaccine, CDX-110, is in Phase II development for the treatment of glioblastoma multiforme, an aggressive type of brain tumor. CDX-110 targets a molecule, EGFRvIII, that is expressed in cancer cells but not in normal tissue.
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