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Pfizer licenses Avant vaccine against brain cancer

Wed Apr 16, 2008 4:54pm EDT

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NEW YORK, April 16 (Reuters) - Pfizer Inc (PFE.N) said on Wednesday it had agreed to license from Avant Immunotherapeutics AVAN.O its experimental vaccine to treat the most common form of brain cancer.

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"Under the licensing and development agreement, Pfizer will make an upfront payment to Avant of $40 million and will make a $10 million equity investment in Avant," the companies said in a joint press release.

The vaccine, called CDX-110, is now in mid-stage trials. It is designed to coax the immune system to attack a type of protein found only in cancer cells that is believed to stimulate cancer cell growth, the companies said. (Reporting by Ransdell Pierson)

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