PF-01367338, an oral and IV Poly (ADP-ribose) polymerase (PARP) inhibitor, is currently in Phase 1/2 development for solid tumors.
The program is supplemented by two ongoing trials, currently using the IV formulation: a Phase 1/2 study in gBRCA breast and ovarian cancer and a Phase 2 study in the adjuvant treatment of triple negative breast cancer.
Clovis Oncology intends to replace the IV formulation with the oral formulation in these studies.
Under the terms of the agreement, Pfizer will receive an upfront license fee payable in equity in Clovis Oncology and will be eligible to receive further payments totaling up to $255m upon Clovis Oncology’s successful attainment of development, regulatory and sales milestones.
Pfizer will also receive royalties on any product sales.
In addition, Pfizer Venture Investments, the venture capital arm of Pfizer, will make a separate equity investment in Clovis Oncology.