Pfizer and Innovent Sign $10.5 Billion Cancer Drug Deal
Pfizer and Innovent Biologics agreed to a $10.5 billion deal to develop 12 early-stage cancer drugs. This includes a $650 million upfront payment to Innovent.
INNOVENT BIOLOGICS INC and PFIZER INC signed a licensing deal worth up to $10.5 billion to develop 12 early-stage cancer treatments. The agreement includes a $650 million upfront payment and $9.85 billion in potential milestone payments. Capital is flowing into oncology pipelines within China.
### Pfizer Taps China's Biotech Pipeline The deal spans eight assets originated by Innovent and four discovery programs proposed by Pfizer. These therapies focus on antibody-drug conjugates (ADCs) and multi-specific antibodies. Innovent will lead development through Phase 1 clinical trials before Pfizer assumes global development responsibilities.
