Lava Therapeutics announces clinical development milestone achieved by Pfizer

LAVA Therapeutics (LVTX) announced that Pfizer (PFE) has achieved a clinical development milestone for PF-08046052, prompting the first milestone payment of $7 Million to LAVA. LAVA granted Seagen, which was acquired by Pfizer in December 2023, a worldwide, exclusive license to PF-08046052 in September 2022. “We are very pleased with the initiation of clinical development by Pfizer of PF-08046052, formerly SGN-EGFRd2/LAVA-1223. We have always viewed this molecule with excitement about its potential in oncology. Achievement of this milestone is another important step in realizing the potential of LAVA’s Gammabody(R) platform. As the Phase 1 study advances, we look forward to continued clinical progress and future data readouts,” said Stephen Hurly, President and Chief Executive Officer of LAVA.