|[June 18, 2014]
Pfizer And Cellectis Enter Into Global Strategic Cancer Immunotherapy Collaboration
NEW YORK & PARIS --(Business Wire)--
Pfizer Inc. (NYSE:PFE) and Cellectis (Paris:ALCLS) today announced that
they have entered into a global strategic collaboration to develop
Chimeric Antigen Receptor T-cell (CAR-T) immunotherapies in the field of
oncology directed at select targets. Cellectis' CAR-T platform
technology provides a proprietary, allogeneic approach (utilizing
engineered T-cells from a single donor for use in multiple patients) to
developing CAR-T therapies that is distinct from other autologous
approaches (engineering a patient's own T-cells to target tumor cells).
Under the terms of the agreement, Pfizer has exclusive rights to pursue
development and commercialization of CAR-T therapies, in the field of
oncology, directed at a total of fifteen targets selected by Pfizer.
Both companies will work together on preclinical research and Pfizer
will be responsible for the development and potential commercialization
of any CAR-T therapies for the Pfizer-selected targets. In addition, the
agreement provides for a total of twelve targets selected by Cellectis.
Both companies will work together on preclinical research on four
Cellectis-selected targets and Cellectis will work independently on
eight additional targets. Cellectis will be responsible for clinical
development and commercialization of CAR-T therapeutics for the
Cellectis-selected targets. Pfizer has right of first refusal to the
four Cellectis-selected targets.
Cellectis will receive an upfront payment of $80 million, as well as
funding for research and development costs associated with
Pfizer-selected targets and the four Cellectis-selected targets within
the collaboration. Cellectis is eligible to receive development,
regulatory and commercial milestone payments of up to $185 million per
Pfizer product. Cellectis is also eligible to receive tiered royalties
on net sales of any products that are commercialized by Pfizer.
Additionally, Pfizer will be entering into an equity agreement to
purchase approximately 10% of the Cellectis capital through newly issued
shares at 9.25 Euro per share, pending Cellectis shareholder approval.
Approval by two-thirds of the votes cast by voting Cellectis
shareholders is required for the issuance. Shareholders of Cellectis
representing 52.8% of its voting rights have already undertaken to vote
in favor of the issuance. In the event the sale of equity is not
approved by the Cellectis shareholders, Pfizer has the option to
terminate the collaboration agreement.
Cellectis expects to open a site in the United States to work more
closely with scientists at Pfizer.
"We believe our CAR-T platform technology has the potential to offer a
real advantage over other approaches to T-cell receptor engineering and
this collaboration with Pfizer is an important step towards realizing
the full potential of this technology in harnessing the body's own
immune system to fight cancer," said Andre Choulika, PhD, Chairman and
Chief Executive Officer at Cellectis. "This alliance provides access to
Pfizer's state-of-the-art therapeutic development capabilities and
provides a unique opportunity to advance this innovative work with the
goal of developing best-in-class CAR-T therapeutics. We lok forward to
working closely with the team at Pfizer on researching and developing
novel CAR-T therapies that could potentially change the way cancer is
"This leading immuno-oncology collaboration aimed at delivering
immunotherapies is built upon Cellectis' advanced genome editing and
cell engineering capability and Pfizer's cutting-edge biotherapeutic
cancer therapy platform," said Mikael Dolsten, MD, PhD, President of R&D
at Pfizer. "Combining the innovation and scientific expertise of
Cellectis with Pfizer's deep oncology and immunology experience creates
a world-class partnership designed to deliver a new generation of CAR-T
immunotherapies for cancer patients with urgent medical needs."
Allogeneic CAR-Ts are "off-the-shelf" products which have the potential
to be industrialized and thereby standardized, with consistent
pharmaceutical release criteria, over time and from batch to batch. Each
potential future patient may thus be treated by immediately receiving a
single dose of a standard product with consistent quality. In addition,
it is expected that such allogeneic products may be shipped in advance
and would be accessible to any cancer center in the world without the
need to invest in a local CAR-T processing facility.
Pfizer Inc.: Working together for a healthier world™
At Pfizer, we apply science and our global resources to bring therapies
to people that extend and significantly improve their lives. We strive
to set the standard for quality, safety and value in the discovery,
development and manufacture of health care products. Our global
portfolio includes medicines and vaccines as well as many of the world's
best-known consumer health care products. Every day, Pfizer colleagues
work across developed and emerging markets to advance wellness,
prevention, treatments and cures that challenge the most feared diseases
of our time. Consistent with our responsibility as one of the world's
premier innovative biopharmaceutical companies, we collaborate with
health care providers, governments and local communities to support and
expand access to reliable, affordable health care around the world. For
more than 150 years, Pfizer has worked to make a difference for all who
rely on us. To learn more, please visit us at www.pfizer.com.
Cellectis is a biopharmaceutical company focused on oncology. The
company's mission is to develop a novel generation of therapy based on
engineered T-cells to treat cancer. Cellectis capitalizes on its 14
years of expertise in genome engineering, based on TALEN(TM),
meganucleases and the state-of-the-art electroporation technology Pulse
Agile (News - Alert), to create a new generation of cancer immunotherapy for treating
leukemias and solid tumors. Cellectis adoptive cancer immunotherapy for
chronic and acute leukemias is based on the first allogeneic T-cell
chimeric antigen receptor (CAR) technology. CAR technologies are
designed to target surface antigens expressed on cells. These treatments
reduce toxicities associated with current chemotherapeutics and have the
potential for curative therapy. The Cellectis Group is focused on life
sciences and uses leading genome engineering technologies to build
innovative products in various fields and markets. Cellectis is listed
on the NYSE Alternext market (ticker: ALCLS). To find out more about us,
visit our website: www.cellectis.com
PFIZER DISCLOSURE NOTICE
The information contained in this release is as of June 18, 2014.
Pfizer assumes no obligation to update forward-looking statements
contained in this release as the result of new information or future
events or developments.
This release contains forward-looking information that involves
substantial risks and uncertainties about CAR-T technology and a
collaboration between Pfizer and Cellectis to develop CAR-T
immunotherapies, including their potential benefits. Such risks
and uncertainties include, among other things, whether and when
Cellectis' shareholders will approve the equity purchase by Pfizer; the
uncertainties inherent in research and development, including the
ability to meet pre-clinical and clinical study commencement and
completion dates as well as the possibility of unfavorable study
results; whether and when drug applications may be filed for any product
candidates that may be developed as part of the collaboration; whether
and when any such applications may be approved by regulatory
authorities, as well as their decisions regarding labeling and other
matters that could affect the availability or commercial potential of
any such product candidates; and competitive developments.
A further description of risks and uncertainties can be found in
Pfizer's Annual Report on Form 10-K for the fiscal year ended December
31, 2013 and in its subsequent reports on Form 10-Q and Form 8-K.
This press release and the information contained herein do not
constitute an offer to sell or subscribe, or a solicitation of an offer
to buy or subscribe for shares in Cellectis in any country. This press
release contains forward-looking statements that relate to the Company's
objectives based on the current expectations and assumptions of the
Company's management only and involve unforeseeable risk and
uncertainties that could cause the Company to fail to achieve the
objectives expressed by the forward-looking statements.
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