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Celldex Therapeutics, Inc.

Drug Names(s): ALT-110, CDX-110, PF-4948568

Description: ALT-110 (CDX-110) is an immunotherapeutic molecule that consists of a peptide from a tumor specific splice variant (EGFRvIII) of the EGF receptor, a protein which has been well validated as a target for cancer therapy. EGFRvIII is predominantly found in a form of advanced brain cancer (malignant glioma), and is also expressed by other cancers. Unlike EGFR, EGFRvIII is not thought to occur significantly in normal tissues.

ALT-110 is a peptide designed to recruit immune system defenses to target this receptor to stop or slow the growth of cancer cells. Because EGFRvIII has only rarely been observed in normal human tissues, it is a highly specific target for cancer therapy.

Deal Structure: In March 2008, AVANT Immunotherapeutics completed its merger with Celldex Therapeutics.

In April 2008, Pfizer and Avant entered into an agreement under which Pfizer will be granted an exclusive worldwide license to CDX-110. This agreement also gives Pfizer exclusive rights to the use of EGFRvIII vaccines in other potential indications. Under the licensing and development agreement, Pfizer will make an upfront payment to Avant of $40 million and will make a $10 million equity investment in Avant. Pfizer will fund all development costs for these programs. Avant is also eligible to receive milestone payments exceeding $390 million for the successful development and commercialization of CDX-110 and additional EGFRvIII vaccine products, as well as double-digit royalties on any product sales.

In October 2008, AVANT announced it changed its name to Celldex Therapeutics.

In September 2010, Celldex Therapeutics announced it regained full worldwide rights to develop and commercialize...See full deal structure in Biomedtracker

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