Pfizer Out-Licenses Two ADC Candidates In Cancer Settings To Pyxis Oncology

Pyxis Oncology has entered into a worldwide license agreement with Pfizer Inc (NYSE: PFE) to develop and commercialize two antibody-drug conjugates (ADC) for oncology indications.

• Under the terms of the agreement, Pyxis has a global license to develop and commercialize two candidates, PYX-201 and PYX-203.
• Pfizer will receive an upfront payment and equity in Pyxis and is eligible to receive development and sales-based milestone payments and tiered royalties on potential sales.
• As part of this agreement, Pyxis will also get a license to Pfizer's ADC platform, including various payload classes, linker technology, and site-specific conjugation techniques for the future development of additional ADCs.
• PYX-201 is a non-internalizing ADC that targets a tumor-restricted antigen that is overexpressed in several solid tumor types to selectively kill tumor cells while enhancing a robust anti-cancer immune response.
• PYX-203 is an ADC that targets an antigen expressed in certain hematologic malignancies. It utilizes a DNA-damaging agent designed to reduce the potential development of drug resistance and disease relapse.
• Price Action: PFE shares are down 0.25% at $35.7 in premarket on the last check Thursday.