Pfizer and Innovent Biologics Partner to Accelerate Cancer Drug Development
Pfizer and Innovent Biologics Enter Global Strategic Collaboration for Cancer Drugs
Pfizer (NYSE: PFE) and Innovent Biologics have entered a global strategic collaboration to accelerate the development of innovative oncology medicines. Under the agreement, Pfizer will receive an exclusive global license for four programs outside Greater China, while Innovent will receive $650 million upfront and up to $9.85 billion in milestone payments.
Key Terms of the Agreement
The collaboration covers global licensing and collaboration for 12 cancer medicines. Pfizer will obtain exclusive global licenses for four programs and will be responsible for the majority of development costs. Innovent will also receive up to double-digit royalties on licensed product sales.
This strategic partnership aims to strengthen both companies' oncology portfolios and deliver innovative treatments to patients. The deal is seen as a significant step in the global cancer therapeutics market.
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Pfizer, Inc.
Pfizer gains exclusive global licenses for four cancer drug programs and will bear most development costs, strengthening its pipeline and long-term growth potential.
Taisei Corporation
Taisei Corporation is a construction company and this news does not directly or indirectly affect its operations.
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