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news.Pfizer has entered into a global strategic collaboration with France-based Cellectis to develop Chimeric Antigen Receptor T-cell (CAR-T) immunotherapies in the field of oncology directed at select targets.
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Cellectis said that its CAR-T technology offers an allogeneic approach in developing CAR-T therapies that are distinct from other autologous approaches.
As part of the deal, Pfizer will have exclusive rights to develop and commercialize CAR-T therapies in the field of oncology, directed at a total of 15 targets selected by the company.
The two firms will jointly work on preclinical research, while Pfizer will be responsible for the development and potential commercialization of any CAR-T therapies for company-selected targets.
Additionally, the agreement provides for a total of 12 targets selected by Cellectis.
The companies will also work on preclinical research on four Cellectis-selected targets, while Cellectis will work independently on eight additional targets.
Cellectis will also be responsible for clinical development and commercialization of CAR-T therapeutics for company-selected targets.
As part of the deal, Pfizer will pay an upfront payment of $80m to Cellectis, as well as provide funding for research and development costs associated with Pfizer-selected targets and the four Cellectis-selected targets within the collaboration.
Cellectis is also be eligible to receive development, regulatory and commercial milestone payments of about $185m per Pfizer product, plus tiered royalties on any eventual sales.
Additionally, Pfizer will also buy 10% stake in Cellectis through newly issued shares at €9.25 per share, pending Cellectis shareholder approval.
Pfizer also has an option to terminate the collaboration agreement if the sale of equity is not approved by the Cellectis shareholders.