Pfizer collaborating with iTeos Therapeutics in the fight against cancer
The pharmaceutical company iTeos Therapeutics is announcing a strategic collaboration with the American group Pfizer concerning research into new cancer treatments. iTeos Therapeutics is receiving a €24 million capital injection in the frame of this collaboration.
iTeos Therapeutics’ portfolio includes a number of molecules that could form the basis of new cancer treatments based on immunotherapy. Pfizer is paying for iTeos’ use of this technology, but is also taking an interest in the Belgian company. In addition, both companies will work together to determine new targets that play a key role in the treatment of tumours using immunotherapy. These targets can then be pursued either separately or together by both companies.
The pharmaceutical sector regards immunotherapy as a highly promising method of treating cancer. Immunotherapy encourages the patient’s own antibodies to fight tumours. Unlike chemotherapy, the side effects of immunotherapy for the patient are minimal.
“This strategic collaboration is a transformational opportunity for iTeos,” says iTeos CEO Michel Detheux. “Pfizer’s expertise in oncology makes it possible to accelerate and expand the range of iTeos’ previously existing programmes.”
Located in Gosselies, iTeos Therapeutics is a private biotechnology company that focuses its efforts on the fight against cancer by tackling the metabolism of the tumour microenvironment by developing small molecular immuno-modulators. The company was set up two years ago and since then has raised capital to the tune of approximately €3 million. A portion of the funds was invested in the establishment of a discovery platform which combines expertise in tumour immunology, cancer immunotherapy and the development of medicines. As a result of the new collaboration, iTeos will over time be able to increase its staff level from eight to twenty employees.