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news.CytomX Therapeutics and Pfizer have entered into a global strategic collaboration to develop and commercialize multiple Probody-Drug Conjugates (PDCs) for cancer treatments.
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The collaboration will leverage CytomX’s Probody Platform to develop safe and effective antibody-drug conjugates (ADCs).
CytomX chief executive officer Sean McCarthy said, "Combining our novel Probody Platform with Pfizer’s broad capabilities in ADCs marks an important milestone for CytomX and underscores the potential of our Probody Platform to enable new generations of empowered antibodies."
Both the companies will work jointly on preclinical research as part of the deal, while Pfizer will assume the development and commercialization activities of select PDCs.
CytomX will receive $25m up-front, research reimbursement and preclinical milestone payments, $610m in regulatory and sales milestone payments in addition to future sales-based royalties.
Pfizer oncology research unit senior vice president and chief scientific officer Robert Abraham said, "Pfizer’s investment in CytomX’s emerging Probody Platform is an important component of our overall strategic focus to advancing the next generation of ADCs and reflects the disruptive potential of this approach."