Pfizer and Allogene have entered into an agreement to develop allogeneic chimeric antigen receptor T cell (CAR T) therapy for treating cancer. The deal will see Pfizer take a 25% stake in Allogene, while Allogene will receive from Pfizer rights to 16 preclinical CAR T assets licensed from French cell therapy specialist Cellectis and French drugmaker Servier. Pfizer has a stake of 8% in Cellectis under a 2014 agreement.

Allogene will also get rights to off-the-shelf cell therapy, UCART19, which is currently in Phase 1 trials.

Allogene was formed this year by two former executive of Kite Pharma, including the company’s former CEO, Arie Belldegrun, who sold Kite to Gilead Sciences for $12 billion last October. Part of US investment group Two River, Allogene is backed by financing of $300 million from a consortium of venture-capital and investment companies.

Robert Abraham, group head, oncology research & development at Pfizer, said that the allogeneic CAR T platform represented a potentially transformative approach to treating cancer. He commented: “We believe that under the strong scientific, clinical development and regulatory expertise of Allogene’s leadership team, the portfolio of CAR T assets contributed by Pfizer will be well-positioned to rapidly advance into potential innovative new therapies, and ultimately to reach patients in need more quickly.”

Pfizer will also get representation on Allogene’s board. The deal is expected to complete in the second quarter of 2018, subject to the usual closing conditions. Financial terms were not disclosed.