The FINANCIAL -- NEW YORK -- Pfizer Inc. announced today an agreement with Puma
Biotechnology, Inc. for the development and commercialization of
neratinib, an investigational oral, multi-targeted inhibitor of the
ErbB1 (EGFR), ErbB2 (HER2) and ErbB4 (HER4) kinases, being studied for
the treatment of cancer.
Under the terms of the agreement, Puma will assume sole responsibility for global development and commercialization of neratinib. Pfizer will be entitled to receive payments upon Puma’s achievement of certain development milestones for neratinib, as well as royalty payments for any sales of neratinib. Specific terms of the agreement were not disclosed.
Puma Biotechnology is a development-stage biopharmaceutical company dedicated to in-licensing and developing novel therapeutics for the treatment of cancer. The company was founded by Alan H. Auerbach, who previously served as founder, chief executive officer and president of Cougar Biotechnology, Inc., which was acquired by Johnson & Johnson in 2009.
“Oncology is a priority for Pfizer. We are actively prioritizing our oncology portfolio, which includes deciding which compounds to develop internally and which compounds we believe may have better opportunities for development externally. This strategic approach helps ensure that people living with cancer can potentially benefit from promising drugs, regardless of where they are developed,” said Garry Nicholson, president and general manager, Pfizer Oncology. “Alan has an excellent track record in advancing important oncology compounds. We are pleased that Puma Biotechnology will continue the evaluation of neratinib in patients living with cancer."
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