Pfizer Antes Up $110 Million To Buy In To Cancer Cell Therapy Race
Fresh from its failed (or at least paused) attempt to acquire rival AstraZeneca, Pfizer has made a big bet on one of the hottest new technologies in cancer: genetically engineered white blood cells that hunt down tumors and destroy them. Pfizer announced this morning that it will pay Cellectis, a French biotechnology company, an $80 million upfront payment for the company’s T-cell technology, in addition to purchasing about $30 million in stock. Pfizer will also foot the bill for some ongoing research and development, and will pay up to $185 million in milestone payments for each of 15 programs that it will be developing to use the tumor-killing cells, known as chimeric antigen receptor T-cells.
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