Cambridge-based biotech company CellCentric has secured a $25m (£19.3m) investment from US pharmaceutical giant and Covid vaccine maker Pfizer to continue developing its cancer-treating drug.
A spinout from the University of Cambridge, CellCentric is developing a new method, called Inobrodib, to treat patients with late-stage relapsed refractory multiple myeloma (RRMM).
“We are delighted to partner with Pfizer to facilitate planning an optimal route to market for Inobrodib. This agreement will enable us to build on the strong early clinical data observed to date in RRMM patients” said Will West, CEO and co-founder of CellCentric.
“We look forward to making Inobrodib available to a broader population of patients, particularly those who are underserved by existing therapies.”
The major investment boost from Pfizer follows recent VC rounds from Morningside Venture Partners, 5Y Capital and BrightEdge, as well as grant funding from Innovate UK.
“Today’s agreement with CellCentric will help deliver the next phase of clinical trials for Inobrodib, and we look forward to sharing our capabilities and deep understanding of the science behind blood cancers to support the development of this program,” said Astrid Ruefli-Brasse, vice president, tumour biology at Pfizer.
“We believe CellCentric’s pioneering work to develop a therapeutic that targets p300/CBP represents a potentially significant new treatment option for patients living with multiple myeloma.”