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Cardiff Oncology Announces $15 Million Equity Investment from Pfizer through its Pfizer Breakthrough Growth Initiative
- Pfizer invests $15 million in Cardiff Oncology common shares - Adam Schayowitz, Ph.D., MBA, Vice President, Medicine Team Group Lead for Breast Cancer,
About this update from Cardiff Oncology, Inc.
[{"type":"text","content":"- Pfizer invests $15 million in Cardiff Oncology common shares\n - Adam Schayowitz, Ph.D., MBA, Vice President, Medicine Team Group Lead for Breast Cancer, Colorectal Cancer and Melanoma, Pfizer, to join Cardiff Oncology Scientific Advisory Board\n\n\nSAN DIEGO, Nov. 18, 2021 /PRNewswire/ -- Cardiff Oncology, Inc. (Nasdaq: CRDF), a clinical-stage oncology company developing new precision medicine treatment options for cancer patients in indications with the greatest unmet medical need (including KRAS-mutated colorectal cancer, pancreatic cancer and castrate-resistant prostate cancer), today announced that Pfizer Inc. (NYSE: PFE) has made a $15 million equity investment in the company as part of the Pfizer Breakthrough Growth Initiative, a program focused on funding innovative science to meet patient needs. Pursuant to a securities purchase agreement between the parties, Pfizer purchased 2.4 million shares of Cardiff Oncology's common stock at a price of $6.22 per share.\n\n \n \n \n \n \n \n\n \n\"This collaborative relationship with Pfizer will support our mission to bring treatment options to patients with difficult-to-treat cancers, such as KRAS-mutated metastatic colorectal cancer, and underscores the breadth of onvansertib's potential as a platform molecule,\" said Mark Erlander, Ph.D., chief executive officer of Cardiff Oncology, speaking about the company's lead asset onvansertib, a first-in-class, third generation PLK1 inhibitor. \"Pfizer's investment and participation on our Scientific Advisory Board will support our efforts as we progress onvansertib's clinical development and work to address the needs of patients.\" \nIn connection with the equity investment, Adam Schayowitz, Ph.D., MBA, Vice President & Medicine Team Group Lead for Breast Cancer, Colorectal Cancer and Melanoma at Pfizer, will join Cardiff Oncology's Scientific Advisory Board, once formed. Dr. Schayowitz commented, \"Pfizer strives to make a meaningful difference for people living with cancer through the advancement of innovative therapies, and we believe that collaboration and strategic investments are key to achieving this goal. We are pleased to be supporting Cardiff Oncology and look forward to potential new approaches to addressing cancers with pressing unmet needs.\" \nCardiff Oncology intends to use the proceeds from the equity investment to ad...