Avant Immunotherapeutics

Avant shares soar on positive cancer vaccine data

Tue, 03 Jun 2008 06:59:57 -0400

On the same day that Ted Kennedy was undergoing brain surgery to remove a tumor, researchers were pouring over new data for an experimental cancer vaccine designed to combat glioblastoma multiforme tumors. In a small study directed by Duke University's John Sampson, 23 patients appear to be on track to deliver a median overall survival rate of 33.1 months where the historical median is 14.3 months. Pfizer obtained the license for CDX-110 earlier this year from Avant Immunotherapeutics, which saw its stock price soar 34 percent on the news.

"So far it's encouraging to see ACT II replicate Activate, and basically double both time-to-progression and (projected) overall survival in comparison to the historical control," said Brean Murray & Co. analyst Jonathan Aschoff.

- see Avant's release
- read the AP report
- check out the story from Forbes

Pfizer, Avant ink $440M cancer vax deal

Thu, 17 Apr 2008 06:59:57 -0400

Avant Immunotherapeutics is pocketing a $40 million upfront fee and a $10 million equity stake from Pfizer in exchange for the worldwide rights to Avant's experimental brain cancer vaccine. And Avant could pocket $390 million in milestone paydays if all goes well with the drug's development. Avant gained control of CDX-110 after completing a merger with Celldex Therapeutics earlier this year.

CDX-110 is in a mid-stage trial designed to demonstrate its efficacy against a defective protein that promotes brain cancer. Pfizer has agreed to take over all development activities and pay out a double-digit royalty to Avant on an approved therapy. Pfizer also gains exclusive rights to EGFRvIII vaccines for other uses.

The Avant deal is just one more in a string of recent Pfizer biotech acquisitions. As Forbes points out, the world's largest drug developer has been bargain hunting: it purchased publicly-traded Coley Pharmaceuticals and Encysive Pharmaceuticals for $164 million and $195 million respectively. It also snapped up two privately-held biotechs: Serenex and CovX. The deals are designed to bolster Pfizer's biotech and oncology pipeline as it faces the loss of some of its biggest drugs to patent expirations over the next several years.

- here's the release
- read the article from Forbes on Pfizer's cancer strategy

Related Articles:
Avant, Celldex merge in $115M stock deal. Deal report
Big Pharma takes an interest in cancer vaccines. Cancer vaccine report
New tech drives huge growth in vaccine business. Vaccine report
Pfizer's future rests with biotech. Report

ALSO NOTED: Dr. Reddy's buys small molecules biz; Labopharm appeals FDA decision; Avant touts typhoid fever data; and much more

Tue, 01 Apr 2008 07:59:50 -0400

> Dr. Reddy's has struck a deal to buy a portion of Dowharma's small molecules business in the UK. Report

> Labopharm has appealed the FDA's decision on its once-daily formulation of tramadol. Report

> Avant Immunotherapeutics says that an experimental typhoid fever vaccine--Ty800--met all primary endpoints in a mid-stage trial. Release

> Monogram Biosciences has inked a deal with Progenics Pharmaceuticals to provide resistance and tropism testing for Progenics' clinical development program of PRO 140, an investigational CCR5 monoclonal antibody being studied for HIV. Release

> VWR International has acquired the lab equipment supplier Jencons for an undisclosed sum. Report

> Here's a big strike against one strategy for protecting drug prices. A European Union advocate general said GlaxoSmithKline violated antitrust laws when it refused to fill Greek wholesalers' orders in a bid to prevent parallel importation. Report

> Did Amgen and Johnson & Johnson over-promote their anemia drugs? Congress is asking the companies for documents detailing their advertising and promotions, including a "bundling" discount Amgen allegedly offered to doctors on Neupogen and Neulasta in return for Aranesp scrips. Report

> Mylan CEO and Vice Chairman Robert Coury (photo) brought down $10.3 million during fiscal 2007, which ran only nine months because the drugmaker changed its fiscal year. Report

> The Vytorin onslaught continues, with Congressional committees circling and secret emails surfacing. Report

And Finally… The largest survey ever of American physicians' opinions on healthcare financing has found that 59 percent of doctors support government legislation to establish national health insurance while only 32 percent oppose it. Release

Avant, Celldex merge in $115M stock deal

Mon, 22 Oct 2007 06:59:56 -0400

Avant Immunotherapeutics is merging with Celldex Therapeutics in a stock deal valued at $115 million. Celldex shareholders will wind up with a majority of the shares in the merged company, which will have development programs in vaccines and brain cancer immunotherapeutics. The merged company will also have a product on the market--the oral vaccine Rotarix. Celldex is privately held and Avant's shares closed at 55 cents on Friday.

- see this release

Related Articles:
Avant cuts staff, biodefense work in restructuring. Report
Avant celebrates endpoint failure for TP10. Report
Avant in deal to develop vaccines. Report