Biotechnology company Allogene Therapeutics has signed an asset contribution deal with Pfizer over allogeneic chimeric antigen receptor T cell (CAR T) therapy assets being developed to treat cancer.
Under the partnership, Pfizer will own a 25% stake in Allogene and will offer financial support to develop the CAR T portfolio, which includes 16 preclinical assets and UCART19.
Allogene intends to assume the global strategic collaboration agreement originally formed with Cellectis in 2014 for the development of ‘off-the-shelf’ CAR T immunotherapies from Pfizer.
Pfizer will continue to hold 8% shares in Cellectis.
Pfizer oncology research & development senior vice-president and group head Robert Abraham said: “We believe that under the strong scientific, clinical development and regulatory expertise of Allogene’s leadership team, the portfolio of CAR T assets contributed by Pfizer will be well-positioned to rapidly advance into potential innovative new therapies, and ultimately to reach patients in need more quickly.”
The deal will provide Allogene with exclusive rights for the development and commercialisation of pre-defined allogeneic UCART programmes intended for specific targets.
Cellectis will receive up to $2.8bn based on clinical and commercial milestones, or $185m for each of the 15 targets and tiered royalties on net sales of any associated products commercialised by Allogene.
Allogene president and CEO David Chang said: “Our mission at Allogene is to catalyse the next revolution in cancer treatment through the development of allogeneic CAR T therapies directed at blood cancers as well as solid tumours.
“We believe this collaboration fuels our mission and we look forward to partnering with Cellectis to accelerate the development of allogeneic cell therapies.”
Subject to closing conditions, the asset contribution agreement is scheduled to be completed in the second quarter of this year.