Avid Bioservices Inc (CDMO)

[dia76ca]

Here is some interesting analysis concerning the immunotherapy world. There is a lot of big money moving about in this area. IMO a PPHM partnership could involve a very large upfront payment!

"Though it had little impact on small or mid-cap equities, Pfizer (PFE) on Monday announced that it's paying $850 million and up to $2 billion in potential milestones to partner with Germany’s Merck KGaA on the anti-PD-L1, MSB0010718C. The two will also collaborate on advancing Pfizer’s own anti-PD-1 antibody into clinical testing.

What makes this announcement noteworthy is the sheer size of Pfizer's upfront payment, which puts this partnership at the top of the list for biggest upfront cash outlays in biotech. Celgene (CELG) claimed the top spot earlier this year with its $700 million payment to Nogra Pharma in exchange for rights to GED-0301, a drug for gastrointestinal indications. Additionally, the pharmaceutical company is playing catchup in immuno-oncology, a space led by Bristol Myer’s (BMY) anti-PD1 nivolumab and Merck’s (MRK) pembrolizumab. In the anti-PD-L1 space, Roche-Genentech (RHHBY) and AstraZeneca (AZN) currently lead with MPDL3280A and MEDI4736."