Pfizer to acquire Canadian immuno-oncology company Trillium in a deal worth $2.6bn

In a deal worth $2.6bn, Pfizer is to acquire Canadian immuno-oncology company Trillium. Under the terms of the deal, Pfizer will acquire all outstanding shares of Trillium and its investigational immuno-therapeutics for haematological malignancies.

Trillium’s portfolio includes biologics that are designed to enhance the ability of patients’ innate immune system to detect and destroy cancer cells. Its two lead molecules, TTI-622 and TTI-621, are currently in phase 1b/2 development across several indications, with a focus on haematological malignancies.

The acquisition follows an investment of $25m in Trillium, made by Pfizer in January through the ‘Pfizer Breakthrough Growth Initiative’ (PBGI), a funding programme created to invest a total of $500m across a number of clinical-stage biotech companies.

Jeff Settleman, senior vice president and chief scientific officer of Pfizer’s oncology research & development group, was also appointed to Trillium’s Scientific Advisory Board.

Clinical trial data for TTI-622 and TTI-621 has demonstrated activity as monotherapy in relapsed or refractory lymphoid malignancies. TTI-622 and TTI-621 are currently the only known CD47-targeted molecules that have demonstrated meaningful single agent activity and CRs in multiple haematological malignancies.

“[The] announcement reflects Trillium’s potentially best-in-class SIRPα–CD47 status and contribution to immuno-oncology,” said Jan Skvarka, CEO of Trillium. “Trillium has the only known SIRPα–CD47 targeting molecules with clinically meaningful monotherapy responses, as well as a strong basis for combination therapies, which is supported by preclinical evidence with a diverse set of therapeutic agents.”

The move follows Pfizer’s deal with Arvinas in July to jointly develop and commercialise ARV-471, an investigational oral protein degrader for breast cancer. Pfizer agreed to pay Arvinas $650m upfront and make a $350m equity investment in the company.

Arvinas will be eligible to receive up to $400m in approval milestones and up to $1bn in commercial milestones relating to ARV-471, and will also share in the drug’s worldwide profits.