Oncolytics Biotech Inc T.ONC

Pfizer reshuffles executive with focus on I/O

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After four years as global president of Pfizer oncology, Andy Schmeltz is moving into a new role as senior vice president of commercial strategy and innovation.

Under the new title, Schmeltz is taking charge of Pfizer's “portfolio strategy and investment decisions,” 

Suneet Varma, who has led Pfizer's rare disease department for the past two years, will be taking over as global oncology and U.S. president at the company.

Pfizer's oncology portfolio is in need of some rejuvenation lately. Its flagship breast cancer drug Ibrance is under pressure from newer CDK4/6 inhibitors from Novartis and Eli Lilly. And the drug just failed to extend lives in newly diagnosed HR-positive, HER2-negative breast cancer in the final analysis of a long phase 3 trial. 

In the hot immuno-oncology space, Pfizer's Merck KGaA-partnered PD-L1 inhibitor Bavencio has basically only managed to carve out a bladder cancer niche and the New York pharma's cell therapy (CAR-T) and antibody-drug conjugate franchises are yet to advance - all placing ONCY's IMMUNE MOLECULE PLATFORM in a favorable position for potential further development by Pfizer, in an proactive effort to enhance the company's overall immuno-oncology portfolio (i.e. PD-L1 inhibitor, CAR-T therapy and ADC), as well as breathing new life into Pfizer's existing oncology portfolio - breast cancer franchise.

https://www.fiercepharma.com/executives/pfizer-executives-move-new-positions-within-company

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Pfizer's acquisition of ONCY at this time in pelareorep's advanced clinical development stage would give both Andy Schmeltz, Pfizer's new VP Commercial Strategy and Innovation, and Sunetet Varma, Pfizer's new Global Oncology Chief and US President, and early win in their new roles.

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Should read: Suneet Varma  ONCY has reached a time in its clinical development plan which has satisfied the FDA's May 2018 request to identify a biomarker for ONCY's Immune Molecule Platfor (pelareorep). The FDA's request has been met though the AWARE-1 WOO clinical study and with the fulfillment of this requirement, the agency offered a confirmation that only one Phase 3 trial

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This news came out last week .... showing that Big Pharma like Pfizer is getting prepared for some serious M&A activity in immuno-oncology in the near future.