Pfizer hands Bosulif Phase III to venture-backed drug developer

Pfizer has signed a late-stage clinical development deal with venture-backed drug developer Avillion, to carry out a Phase III trial for cancer drug Bosulif in order to expand the drug's indication to include first-line treatment for chronic phase Philadelphia chromosome positive (Ph+) chronic myelogenous leukemia (CML). While the need to seek the services of a start-up company in developing its drug might be seen as an embarrassment for more pharma companies with more machismo, Pfizer sees the deal as a way of more rapidly exploiting the potential of Bosulif.