Cancer Therapeutics CRC (CTx) has signed a two-year research partnership and licensing deal with Pfizer. With this agreement, the global pharmaceutical gains the rights to two novel pre-clinical cancer programs that focus on proteins closely linked to the growth of solid and blood cancer. Exploring these programs could lead to new cancer treatments.
For these two programs, CTx received a signature payment of AUD$20M with the potential for up to AUD$648M for development and sales milestones, plus royalties on sales if program outcomes are commercialized.
“This deal, together with the three prior deals for CTX technology, has the potential to return a billion dollars to Australia. Funds that will help support the biomedical sector and that can be ploughed into new drug discovery programs”, said Brett Carter, CEO of CTx.
This partnership between the Melbourne-based CTx and NY-based Pfizer is the second significant preclinical licensing deal that CTx has completed with a major pharmaceutical company and adds significantly to the already impressive list of commercial achievements by CTx in recent years. The previous license with MSD (Merck in North America) was signed in January 2016.
BioMedVic congratulates its member CTx for reaching this agreement with Pfizer. BioMedVic’s Board is currently Chaired by Dr Warwick Tong, who until April 2018 was the CEO of CTx. Dr Tong is now CTx’s Advisor and Chair of its spin-out company CTx One. BioMedVic’s Board past Chair, Dr George Mortsyn, is also an Independent Director on the CTx Board.