Acquisition enhances Pfizer’s Oncology
portfolio with addition of next-generation, investigational
immuno-therapeutics for hematological malignancies
Pfizer Inc. (NYSE: PFE) today announced the successful
completion of its acquisition of Trillium Therapeutics, a clinical
stage immuno-oncology company developing innovative therapies for
the treatment of cancer.
As Trillium becomes part of Pfizer, it brings an impressive
portfolio that includes biologics that are designed to enhance the
ability of patients’ innate immune system to detect and destroy
cancer cells. Its two lead molecules, TTI-622 and TTI-621, block
the signal-regulatory protein α (SIRPα)–CD47 axis, which is
emerging as a key immune checkpoint in hematological malignancies.
TTI-622 and TTI-621 are novel SIRPα-Fc fusion proteins that are
currently in Phase 1b/2 development across several indications,
with a focus on hematological malignancies. Both molecules are also
being tested to evaluate clinical potential in solid tumors.
“We are proud to bring Trillium’s leading scientific talent and
pipeline into Pfizer,” said Chris Boshoff, MD, PhD, Chief
Development Officer, Oncology, Pfizer Global Product Development.
“Today’s announcement combines Pfizer’s research and global
development capabilities with Trillium’s innovative discoveries,
allowing us to accelerate breakthroughs that change patients’
lives.”
Hematological malignancies are cancers that affect the blood,
bone marrow, and lymph nodes. This classification includes various
types of leukemia, multiple myeloma, and lymphoma. More than 1
million people worldwide were diagnosed with a blood cancer in
2020, representing almost 6% of all cancer diagnoses globally. In
2020, more than 700,000 people worldwide died from a form of blood
cancer.
Additional Transaction Details
Pfizer has completed its acquisition of all outstanding shares,
warrants, options, and deferred share units of Trillium not already
owned by Pfizer for $18.50 per share, in cash, representing an
aggregate purchase price of approximately $2.22 billion. The
acquisition was completed by way of a statutory plan of arrangement
under the Business Corporations Act (British Columbia) and, as a
result of the acquisition, Trillium became a wholly-owned
subsidiary of Pfizer. In connection with the acquisition,
Trillium’s common shares will be delisted from the Nasdaq Capital
Market. Trillium’s common shares will be delisted from the Toronto
Stock Exchange on or before November 19, 2021.
For additional background on the acquisition, please read the
announcement press release here.
About Pfizer Oncology
At Pfizer Oncology, we are committed to advancing medicines
wherever we believe we can make a meaningful difference in the
lives of people living with cancer. Today, we have an
industry-leading portfolio of 24 approved innovative cancer
medicines and biosimilars across more than 30 indications,
including breast, genitourinary, colorectal, blood and lung
cancers, as well as melanoma.
About Pfizer: Breakthroughs That Change Patients’
Lives
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, including innovative medicines and vaccines. 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 170 years, we have worked to make a difference for all
who rely on us. We routinely post information that may be important
to investors on our website at www.Pfizer.com. In addition, to
learn more, please visit us on www.Pfizer.com and follow us on
Twitter at @Pfizer and @Pfizer News, LinkedIn, YouTube and like us
on Facebook at Facebook.com/Pfizer.
Disclosure Notice
The information contained in this release is as of November 17,
2021. 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 about Pfizer’s
acquisition of Trillium, Trillium’s portfolio, including its lead
molecules, TTI-622 and TTI-621, and Pfizer’s oncology portfolio,
including their potential benefits, that involves substantial risks
and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statements.
Risks and uncertainties include, among other things, risks related
to the ability to realize the anticipated benefits of the
acquisition, including the possibility that the expected benefits
from the acquisition will not be realized or will not be realized
within the expected time period; the risk that the businesses will
not be integrated successfully; disruption from the transaction
making it more difficult to maintain business and operational
relationships; negative effects of this announcement or the
consummation of the acquisition on the market price of Pfizer's
common stock and/or operating results; significant transaction
costs; unknown liabilities; the risk of litigation and/or
regulatory actions related to the acquisition; other business
effects and uncertainties, including the effects of industry,
market, business, economic, political or regulatory conditions;
future exchange and interest rates; changes in tax and other laws,
regulations, rates and policies; future business combinations or
disposals; the uncertainties inherent in research and development,
including the ability to meet anticipated clinical endpoints,
commencement and/or completion dates for clinical trials,
regulatory submission dates, regulatory approval dates and/or
launch dates, as well as the possibility of unfavorable new
clinical data and further analyses of existing clinical data; risks
associated with interim data; the risk that clinical trial data are
subject to differing interpretations and assessments by regulatory
authorities; whether regulatory authorities will be satisfied with
the design of and results from our clinical studies; whether and
when drug applications may be filed in any jurisdictions for
TTI-622 and TTI-621 or any other investigational products; whether
and when any such applications may be approved by regulatory
authorities, which will depend on myriad factors, including making
a determination as to whether the product's benefits outweigh its
known risks and determination of the product's efficacy and, if
approved, whether TTI-622, TTI-621 or any such other products will
be commercially successful; decisions by regulatory authorities
impacting labeling, manufacturing processes, safety and/or other
matters that could affect the availability or commercial potential
of TTI-622, TTI-621 or any such other products; uncertainties
regarding the impact of COVID-19; 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, 2020 and in its subsequent reports on Form 10-Q,
including in the sections thereof captioned “Risk Factors” and
“Forward-Looking Information and Factors That May Affect Future
Results”, as well as in its subsequent reports on Form 8-K, all of
which are filed with the U.S. Securities and Exchange Commission
and available at www.sec.gov and www.pfizer.com.
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