With a quarter of North America’s estimated 110 million companion pets expected to get cancer in their lifetimes, Calgary-based Oncolytics Biotech Inc. has signed a licensing deal with Pfizer Inc. for the U.S. pharmaceutical giant to develop and market a cancer-fighting virus to treat animals.
Oncolytics focuses on the development of a reovirus capable of killing cancer cells in humans and animals.
Under the deal, Pfizer will be responsible for development and commercialization of the product for animal use, while Oncolytics will provide continuing support to the pharmaceutical maker on the development of the virus.
Oncolytics president Brad Thompson said the company has conducted extensive tests on mice, rats and dogs and “reovirus has been shown to eliminate or reduce tumours and extend life with few or no side effects.”
Thompson estimates the market for the treatment of cancer in animals in the U.S. is worth between $250 million and $500 million US per year.
Oncolytics has a separate deal with Pfizer for a clinical trial of the reovirus to treat cancer in humans.
Oncolytics says the reovirus has been show to be capable of selectively destroying in-vitro cancer cells derived from human breast, prostate, pancreatic and brain cancers.
Terms were not disclosed for the latest agreement.
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www.oncolyticsbiotech.com
