Celcuity in Licensing Agreement with Pfizer to Develop and Commercialize Gedatolisib
April 08 2021 - 5:00PM
Dow Jones News
By Stephen Nakrosis
Biotechnology company Celcuity Inc. on Thursday said it entered
a global licensing agreement with Pfizer Inc., receiving a
worldwide license to develop and commercialize that company's
gedatolisib.
Gedatolisib is in clinical development for the treatment of
patients with certain types of breast cancer.
Under the terms of the deal, Celcuity said, it paid an upfront
license fee of $5 million of cash and $5 million of its common
stock. Pfizer is also eligible to receive up to $330 million of
milestone payments and tiered royalties on potential sales,
Celcuity said.
Gedatolisib is currently being evaluated in combination with
palbociclib and either letrozole or fulvestrant in a Phase 1b
clinical trial in patients with ER+/HER2-negative advanced or
metastatic breast cancer, Celcuity said.
"Preliminary data from 103 patients in the expansion portion of
a Phase 1b clinical trial demonstrated the drug was well tolerated
and anti-tumor activity was noted," Celcuity said.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
April 08, 2021 16:45 ET (20:45 GMT)
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