Pfizer invests in cancer newco Ignite

Pfizer Inc. (NYSE:PFE) invested an undisclosed amount to take a 50% stake in newly launched Ignite Immunotherapy Inc. (Alameda, Calif.). Ignite also announced a strategic collaboration in which Pfizer is to provide R&D funding for three years and has an exclusive option to acquire the company.

Ignite will seek to discover and develop IV oncolytic virus vaccines to treat cancer. Its Oncolytic Vaccine Evolution vector platform is designed to discover gene and immunotherapy delivery vehicles to target cancer cells in metastatic tumors. The company said the therapies could be combined with immune checkpoint inhibitors...