Pfizer, OncoImmune in Immuno-Oncology Licensing PactBy
Pfizer has signed an exclusive option and license agreement with OncoImmune, a clinical-stage biopharmaceutical company based in Rockville, Maryland, for OncoImmune’s immuno-oncology drug candidate, ONC-392, a differentiated, preclinical anti-cytotoxic T-lymphocyte associated protein 4 (anti-CTLA4) monoclonal antibody. The deal is worth up to $250 million in upfront and potential milestone payments.
Under the agreement, Pfizer plans to evaluate ONC-392 up until a certain agreed-upon time to determine whether it will exercise its option to exclusively license ONC-392 as well as any other OncoImmune anti-CTLA4 antibodies. If Pfizer exercises its option under the agreement, Pfizer would be responsible for all development and potential commercialization of the program. OncoImmune would be eligible to receive potential developmental and commercial milestone payments as well as royalties, tiered from mid-single up to low-double digits, on sales of any potential resulting products.
ONC-392 was identified using OncoImmune’s proprietary in vivo screening models for drug selection and is designed to help reduce immune-related toxicities while retaining anti-tumor immunity.