In the wake of a comeback for cancer vaccines, Pfizer Inc. (NYSE:PFE) is holding onto an option of partnering with a startup in the field. The US pharma giant will be taking close to a 50% stake in the newly-formed cancer drug outfit Ignite Immunotherapy, based in Alameda, CA. Word has it that Pfizer could in the long run buy it out but only if its founders take the right direction insofar as research and development.
In backing the startup’s efforts, the drug giant will provide full funding to R&D for three years. It has acquired two seats on the new company’s board of directors; its research exec James Merson being one of them. Nonetheless, the terms to all this unfolding were not made public.
Partnership of companies with checkpoint inhibitors
A lot is deemed to be happening in the field given the formation of various partnerships. In appreciation of the most recent one, co-founder and executive chairman of Ignite, David Kirn says, “We are excited to announce the formation of Ignite Immunotherapy, which we hope will emerge as a leader in the oncolytic virus cancer vaccine and immunotherapy fields. Our founding scientific team has deep expertise in the areas of oncolytic virus design and development, cancer immunotherapy, gene therapy and biotech entrepreneurship.”
Kirn further outlines the dire need for complementary skill sets, which he asserts that they will help in the success of complex issues in the field. According to Merson, the collaboration is also a significant advancement in Pfizer’s investment in oncolytic viruses. The company hopes that the combination of intravenous oncolytic cancer vaccines with immune checkpoint inhibitors will be highly efficient and safe in patients with metastatic cancers.
Market for cancer vaccines is expected to triple
After years of disappointments, the market for cancer vaccines is lighting up according to a recent analysis by GBI Research. There is a lot of diversification, and much more is expected by 2022. This is likely to be boosted by the various partnerships, the likes of Parker Institute for Cancer Immunotherapy and the Cancer Research Institute. Big pharmas like Merck & Co., Inc. (NYSE:MRK) and AstraZeneca plc (ADR)(NYSE:AZN), are also trying out though with smaller biotechs. Another is Boehringer, which has opened a $230 million deal with Vira Therapeutics.