Avant and Pfizer agree on a $50 million deal for cancer treatment

4/17/2008

BOSTON Avant Immunotherapeutics signed a deal with Pfizer to help fund the development of a brain cancer vaccine, earning Avant at least $50 million, according to published reports.

In the deal, Pfizer will pay Avant $40 million immediately along with a $10 million equity investment for the company. Pfizer has also agreed to fund all costs for the development of the compound CDX-110. According to published reports, CDX-110 is in the midstage of human clinical trials, and will earn Avant more than a reported $390 million if all the set standards for the treatment are met.

Pfizer, as a result of the deal, will gain exclusive global license to the treatment.

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