NEW YORK CITY (dpa-AFX) - Pfizer Inc. (PFE) and Western Oncolytics announced that they have entered into a development collaboration, license and option agreement to advance Western Oncolytics' novel oncolytic vaccinia virus, WO-12. Oncolytic viruses are viruses engineered to kill cancer cells while sparing healthy cells, which subsequently elicits anti-cancer immune responses. This collaboration in oncolytic virus development adds another novel technology platform to Pfizer's cancer vaccine efforts and provides an additional tool to bolster its immuno-oncology portfolio.
Under the terms of the agreement, Pfizer and Western Oncolytics will collaborate on preclinical and clinical development of WO-12 through Phase I trials. Following completion of Phase I trials, Pfizer has an exclusive option to acquire WO-12. Financial terms of the agreement were not disclosed.
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