Pfizer licenses out cancer candidate to biotech VLST

Venture-backed biotech VLST has jumped into the clinical-stage game with a cancer drug candidate licensed from pharma giant Pfizer ($PFE). As Xconomy reports, Seattle-based VLST has been around for 8 years and the Pfizer candidate, an antibody called CP-870,893, provides the biotech with its first compound for human testing. Pfizer has grabbed a 5% equity stake in VLST and co-exclusive rights to the candidate in cancer, while the drug giant continues to shed assets from its pipeline in an effort to streamline its R&D activities. Article