Issue Date: June 13, 2011
Pfizer Signs Cancer Candidate To Clovis
Clovis Oncology and Pfizer have signed an agreement under which Clovis will assume responsibility for Pfizer’s oral and intravenous poly(ADP-ribose) polymerase (PARP) inhibitor, PF-01367338, a small-molecule therapeutic currently in Phase I and II development programs for solid tumors. Pfizer will receive an undisclosed equity stake in Clovis and milestone payments of up to $255 million. “Clovis Oncology is the ideal choice to continue the development and commercialization of PF-01367338,” says Garry Nicholson, president and general manager of Pfizer Oncology.
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