Cellectis SA shares jumps on sale talks with Pfizer

Shares of Cellectis SA jumped up by as much as 11 per cent over their weekend closing, after media reports said that it was in sale talks with suitors, including Pfizer.

Citing people familiar with the matter, The Financial Times reported that the French cancer drug maker, which has a market cap of around $1.5 billion, was in potential sale talks with a few suitors, including Pfizer.

The talks with Pfizer comes a year after the New York-based pharmaceutical giant bought rights to the French company's experimental CAR-T projects and also acquired around 10 per cent stake in the company. (See: Collectis shares surge on Pfizer deal)

Founded in 1999, Paris-based Cellectis is a gene-editing company focused on developing immunotherapies based on gene edited engineered CAR-T cells. The company aims to develop a new generation of cancer therapies based on engineered T-cells.

Cellectis, where the French government's sovereign wealth fund holds around 9 per cent, is listed on the Nasdaq Global Market and on the NYSE Alternext market.

A potential deal would strengthen Pfizer's standing in the immuno-oncology market after it last year inked an $2.85 billion development deal for treatment of multiple types of cancer with Germany's Merck KGaA.