Pyxis is using site-specific conjugation technology to develop highly stable ADCs with superior therapeutic indexes. The company has two ADC candidates in development, PYX-201 and PYX-203.

PYX-201 is a first-in-class, noninternalizing ADC that targets a tumor-restricted antigen that is overexpressed in several solid tumor types to selectively kill tumor cells while enhancing a robust anticancer immune response. PYX-203 is an ADC that targets an antigen expressed in certain hematologic malignancies. PYX-203 utilizes a highly potent DNA-damaging agent designed to reduce the potential development of drug resistance and disease relapse.

Pyxis will also gain access to Pfizer's technology platform, including various payload classes, linker technology, and site-specific conjugation techniques for the future development of additional ADCs.

Pfizer will receive an upfront payment of an undisclosed amount and equity in Pyxis and is eligible to receive development and sales-based milestone payments and tiered royalties on potential sales.