On November 20, 2000, Oncolytics Biotech Inc. (Oncolytics), a biotechnology company focused on development of reovirus as a potential cancer therapeutic, announced that it had entered into a world-wide licensing agreement with US based pharmaceutical giant Pfizer Inc. (Pfizer) for the development and marketing of Oncolytics’ reovirus as a cancer therapy in animals. Pursuant to the agreement, New York-based Pfizer will develop and commercialize the product, while Calgary-based Oncolytics will provide development support.
The reovirus infects and kills cancer cells with an activated Ras pathway. Researchers believe that targeting this pathway, which controls normal growth and differentiation of a cell, could have broad potential in the treatment of many cancers. Oncolytics researchers have demonstrated that reovirus was selectively able to kill cancer cells with this particular activation and successfully demonstrated that the virus could kill human cancer cells in vitro derived from breast, prostate, pancreatic and brain tumors, as well as being able to treat tumors successfully in a number of animal models.
Oncolytics Biotech Inc. was represented by Gordon Sustrik of Bennett Jones LLP. In-house attorney Owen Hughes, attended to the transaction on behalf of Pfizer Inc.
The reovirus infects and kills cancer cells with an activated Ras pathway. Researchers believe that targeting this pathway, which controls normal growth and differentiation of a cell, could have broad potential in the treatment of many cancers. Oncolytics researchers have demonstrated that reovirus was selectively able to kill cancer cells with this particular activation and successfully demonstrated that the virus could kill human cancer cells in vitro derived from breast, prostate, pancreatic and brain tumors, as well as being able to treat tumors successfully in a number of animal models.
Oncolytics Biotech Inc. was represented by Gordon Sustrik of Bennett Jones LLP. In-house attorney Owen Hughes, attended to the transaction on behalf of Pfizer Inc.
