Pfizer Licenses Cancer Compound to Puma

Pfizer has entered an agreement with Puma Biotechnology, Inc. to out-license development and commercialization of neratinib, an investigational oral, multi-targeted inhibitor of the ErbB1 (EGFR), ErbB2 (HER2) and ErbB4 (HER4) kinases, for the treatment of cancer.

Puma will assume responsibility for global development and commercialization of neratinib. Pfizer will be entitled to receive payments based on the achievement of certain development milestones, as well as royalty payments on neratinib sales. Further terms were not disclosed.

“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.