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Drug Names(s): CPG 7909, PF-3512676, PF676, agatolimod
Description: ProMune (CPG 7909) is a synthetic agonist for Toll-like receptor 9 (TLR9) and is a potent and specific activator of innate and adaptive immunity to cancer cells. By stimulating TLR9, ProMune acts directly and selectively on plasmacytoid dendritic cells and B cells to reverse immune tolerance to malignant cells and to drive specific, sustained anti-tumor responses through the production of antigen specific cytotoxic T cells (CTLs) and antibodies.
Deal Structure: In March 2005, Coley and Pfizer announced a license agreement for the development and worldwide commercialization of CPG 7909. Under the agreement, Pfizer will fund virtually all development, regulatory and commercialization costs for CPG 7909. Pfizer will make an initial payment of $50 million to Coley, with the potential for up to $455 million in additional milestone payments, plus royalties based on the successful development and commercialization of ProMune.
In November 2007, Pfizer announced it entered into an agreement to acquire Coley Pharmaceutical Group. Under the terms of the agreement, Pfizer will make a cash tender offer for all of the outstanding common stock of Coley for $8.00 per share, representing an enterprise value of $164 million.
In December 2007, Pfizer completed its acquisition of Coley Pharmaceutical.
Pink Sheet Licensing In Brief
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