Philogen S.p.A., announced that Pfizer Inc. has exercised options granted under the agreement established in December 2014 for the potential development and commercialization of multiple antibody drug conjugates (ADCs).
Philogen is a biotechnology company developing targeted therapies with precise specificity in certain diseases characterised by angiogenesis. "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 Dr. Duccio Neri, Philogen's CEO. "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, Ph.D., Senior Vice President and Head of Pfizer's Oncology-Rinat Research & Development Group.
Pfizer now has exclusive rights to pursue development of certain ADCs and targeted technologies and is responsible for research and development and potential commercialization of candidate molecules. Separately, in January 2013 Philogen and Pfizer entered into an exclusive license agreement regarding the 'armed antibody' Dekavil, under which Pfizer is exploring the activity of Dekavil for autoimmune diseases.