Pfizer is all set to acquire a clinical-stage immuno-oncology company, Trillium Therapeutics Inc., with all its outstanding shares, for $2.26 billion (or $18.5 per share) in liquid form.
The closing of the acquisition is expected after regulatory’s approval and fulfilment of some necessary closing conditions.
Trillium is working on developing state-of-the-art therapies for cancers and biologics that could help boost the natural immune system to identify and destroy cancer cells.
The Canada based biotech has two lead molecules TTI-621 and TTI-622 that hampers the signal-regulatory protein α (SIRPα)–CD47 axis, which is a main immune checkpoint inhibitor, a leading cause in haematological cancers.
The two above mentioned proteins are SIRPα-Fc fusion proteins which are in phase Ib/II development stage targeting haematological malignancies in particular.
Pfizer intends to accelerate the clinical development of the SIRPα fusion proteins and examine different combinations within the company’s portfolio and with new therapies for haematological malignancies. Their addition to the company will further strengthen US pharma giant’s oncology pipeline.
These immuno-therapeutics became active as a monotherapy in clinical studies for refractory or relapsed lymphoid malignancies including diffuse large B-cell lymphoma (DLBCL), peripheral T-cell lymphoma (PTCL), follicular lymphoma (FL) and more.
Andy Schmeltz, Pfizer Oncology Global President and General Manager, said, “The proposed acquisition of Trillium builds on our strong track record of leadership in Oncology, enhancing our haematology portfolio as we strive to improve outcomes for people living with blood cancers around the globe.”
Pfizer’s acquisition decision followed a $25 million investment in Trillium Therapeutics, which it made by means of Pfizer Breakthrough Growth Initiative (PBGI), in September last year.
As a consequence, Trillium’s Senior Vice President and Chief Scientific Officer of Oncology R&D Group, Jeff Settleman joined Pfizer’s scientific advisory board.