Puma gets Pfizer cancer product

Newco Puma Biotechnology Inc. (Los Angeles, Calif.) on Wednesday in-licensed a breast cancer product from Pfizer Inc. (NYSE:PFE) and raised $55 million in a private placement. Pfizer granted Puma exclusive, worldwide rights to develop and commercialize neratinib, an oral inhibitor of epidermal growth factor receptor 1 ( EGFR1; HER1; ErbB1), HER2 and HER4 kinases. Puma plans to begin Phase II trials of neratinib in HER2-positive metastatic breast cancer next half. Pfizer is eligible for milestones and royalties. ...