Pfizer outsources PhIII Bosulif study to upstart Avillion

Avillion has scored one of its first risk-sharing deals on a late-stage pharma asset. The London-based Avillion Group struck a deal to do a Phase III study of Pfizer's ($PFE) Bosulif (bosutinib) as a first-line treatment for patients with chronic phase Philadelphia chromosome-positive chronic myelogenous leukemia. The drug is already approved as a second-line leukemia therapy. Clarus Ventures and Abingworth launched Avillion about a year ago, following a pioneering business model laid out by SFJ Pharma in Asia. The group is run by an experienced CRO team which takes on the cost of $50 million to $100 million late-stage studies in exchange for a piece of the action or some other payout. In this instance, Pfizer retains commercialization rights but will pay out milestones based on the success of the program. Release