Pfizer licenses cancer therapy to Puma Biotechnology

Pfizer has announced the agreement of a new licensing deal with Puma Biotechnology, pertaining to the development of the cancer therapy neratinib.

The agreement will give Puma sole responsibility for the global commercialisation of the investigational pan-HER inhibitor, which is currently being evaluated as a potential treatment for breast cancer.

Under the terms of the deal, Pfizer will be entitled to receive payments upon Puma's achievement of certain development and commercial milestones for neratinib in the future.

Garry Nicholson, president and general manager of Pfizer Oncology, said this is part of the company's strategy of licensing out any compounds it feels would be better served by being developed externally.

"This strategic approach helps ensure that people living with cancer can potentially benefit from promising drugs, regardless of where they are developed," he added.

Last month, it was announced that Pfizer will be expanding the capabilities of its biotechnology manufacturing facility in Clondalkin, County Dublin, in order to strengthen its global production pipeline.