Pfizer has completed the acquisition of all outstanding shares of clinical-stage immuno-oncology firm Trillium Therapeutics in a deal worth about $2.22bn, or $18.50 per share, in cash.
The companies have signed a definitive agreement for the deal in August this year.
Trillium Therapeutics develops new therapies for cancer. Its portfolio includes biologics which are designed to boost the innate immune system’s ability in patients for identifying and destroying cancer cells.
The company’s lead molecules, TTI-622 and TTI-621, are designed to hinder the signal-regulatory protein α (SIRPα)–CD47 axis, which is developing as an important immune checkpoint in haematological malignancies.
Haematological malignancies are cancers which affect lymph nodes, blood, and bone marrow, and include several types of lymphoma, multiple myeloma, and leukaemia.
The two molecules are novel SIRPα-Fc fusion proteins that are currently in Phase Ib/II development for various indications with focus on haematological malignancies.
They are also being tested to evaluate clinical potential in solid tumours.
The addition of these next-generation, investigational immuno-therapies are expected to boost Pfizer’s oncology portfolio.
Pfizer Global Product Development Oncology chief development officer Chris Boshoff said: “We are proud to bring Trillium’s leading scientific talent and pipeline into Pfizer.
“Today’s announcement combines Pfizer’s research and global development capabilities with Trillium’s innovative discoveries, allowing us to accelerate breakthroughs that change patients’ lives.”
In the clinical trials, both TTI-622 and TTI-621 showed activity as monotherapy for relapsed or refractory lymphoid malignancies, that include follicular lymphoma (FL), diffuse large B-cell lymphoma (DLBCL), peripheral T-cell lymphoma (PTCL), as well as other lymphoid cancers.