Trillium Therapeutics Inc (TSE: TRIL) announced yesterday that Pfizer, one of the leading COVID-19 vaccine developers bought 2,297,794 common shares of Trillium stock at a price of $10.88 per share. Trillium is an “immuno-oncology company targeting CD47, a molecule that tumors frequently use to evade the immune system.” The company uses innovative therapies to treat cancer at a cellular level, and has now caught the attention of Bio-Pharma goliath Pfizer.
“In addition, Dr. Jeff Settleman, Senior Vice President and Chief Scientific Officer, Oncology, Worldwide Research, Development & Medical, Pfizer, has agreed to join Trillium’s Scientific Advisory Board (SAB), once formed.”
This news offers fresh confidence for shareholders, as Pfizer is one of the largest Bio-Pharma’s in the world. Investors have made the connection that Pfizer can see longstanding potential in Trillium Therapeutics, hence the 35% spike pre-market. Having Dr. Jeff Settlemen on Trilliums SAB board will offer an invaluable asset for the long term development of the company. Furthermore, with Dr. Jeff Settlemen on the SAB board, Pfizer can effectively monitor and guide their investment, another positive sign for long term shareholders.
Read the full announcement here.
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The information above is not financial advice. Youth Investment Group has no liability for personal financial interests or investment decisions. You should make your own investment decisions based upon your own research and what you believe is best for you.