# The partnership spans a portfolio of antibody-drug conjugates (ADCs) with ​novel differentiated payloads and multi-specific antibodies.

*biotech · news · 2026-05-28 · Reuters*

## Key points

- Pfizer will pay Innovent a $650 million upfront payment and up to $9.85 billion in milestones.
- The partnership covers 12 antibody-related programs, including eight from Innovent and four proposed by Pfizer.
- Innovent will lead development through Phase 1 before Pfizer assumes global development responsibility.
- Four programs will be co-developed with profit sharing in the US and Europe; Innovent keeps Greater China rights.
- For the other programs, Pfizer secures exclusive licenses either globally or outside Greater China, with differing cost responsibilities.

The deal also includes a $650 million ​upfront payment to Innovent and up to $9.85 billion ⁠in potential development, regulatory and commercial milestone ​payments. Sign up here. The partnership spans a portfolio of antibody-drug conjugates (ADCs) with ​novel differentiated payloads and multi-specific antibodies, comprising eight Innovent-originated early-stage assets and four Pfizer-proposed discovery programs. Under the terms of the ​agreement, Innovent will lead development of the ​12 programs through Phase 1 clinical trials before Pfizer takes on ‌global ⁠development. The deal is structured across three tiers. Four programs will be co-developed and co-commercialised, with profits shared in the United States and Europe, while ​Innovent retains rights ​in Greater ⁠China. For another four programs, Pfizer receives an exclusive license outside Greater China, ​while it holds an exclusive global license ​and ⁠bears all global development costs for the remaining four. Innovent, together with its wholly-owned units Innovent Biologics (Suzhou) and ⁠Fortvita ​Biologics (USA) entered into the deal ​with Pfizer, the firm said in an exchange filing. Reporting by Rajasik ​Mukherjee & Sherin Sunny in Bengaluru; editing by Alan Barona

**Companies:** Pfizer, Innovent, Innovent Biologics (Suzhou), Fortvita Biologics (USA)
**Countries:** USA, China

[Read the full story on Reuters](https://www.reuters.com/legal/litigation/chinas-innovent-biologics-pfizer-strike-up-105-billion-cancer-drug-deal-2026-05-28/)

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