Kineta in Licensing Deal With Pfizer Potentially Worth More Than $500 Million
December 17 2018 - 9:47AM
Dow Jones News
By Colin Kellaher
Seattle clinical-stage biotechnology company Kineta Inc. on
Monday said it signed a licensing agreement potentially worth more
than $500 million to develop new cancer immunotherapies with drug
giant Pfizer Inc. (PFE).
Kineta said its Kineta Immuno-Oncology unit will receive $15
million upfront from Pfizer and will be eligible for up to $505
million in potential milestone payments.
Kineta said the companies will work to develop and test small
molecule agonists that target RIG-I, an innate immunostimulatory
pathway that can elicit immunogenic cell death in tumors, providing
direct tumor cell killing and enhanced antitumor immune
responses.
New York-based Pfizer will receive exclusive rights to Kineta's
RIG-I screening platform and related compounds and
technologies.
Kineta in April said it agreed to collaborate with Roche
Holdings AG's (ROG.EB) Genentech on development of a nonopioid pain
therapy in a deal that included up to $359 million on potential
milestone payments.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 17, 2018 09:32 ET (14:32 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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