Pfizer Pledges $650M Upfront, $9.85B Milestone in 12-Program Oncology Deal
PFE•Pfizer will co-develop 12 early-stage oncology candidates with Innovent, covering eight Innovent-originated and four Pfizer-proposed programs across ADCs and multispecific antibodies, with co-commercialization in the U.S. and Europe. Under the agreement, Pfizer commits $650 million upfront and could pay up to $9.85 billion in milestones, sharing development costs accordingly.
1. Scope of Collaboration
Pfizer and Innovent have entered a global licensing and collaboration agreement to research and develop a portfolio of 12 oncology candidates, combining eight Innovent-originated early-stage programs with four Pfizer-proposed discovery projects.
2. Program Portfolio and Modalities
The joint pipeline encompasses antibody-drug conjugates featuring novel differentiated payloads and multispecific immune-engaging antibodies designed to target various cancer types and leverage both companies’ complementary scientific strengths.
3. Financial and Licensing Structure
Pfizer will pay a $650 million upfront fee to Innovent and may incur up to $9.85 billion in development, regulatory and commercial milestone payments, along with double-digit royalties, under exclusive and co-development license terms.
4. Development and Commercialization Plans
Innovent will advance all programs through Phase 1 before Pfizer leads global clinical development, with joint commercialization in the U.S. and Europe while Innovent retains Greater China rights and both firms share development costs and profits.
