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biotech/news//Reuters
The partnership spans a portfolio of antibody-drug conjugates (ADCs) with novel differentiated payloads and multi-specific antibodies.
Pfizer will pay Innovent a $650 million upfront payment and up to $9.85 billion in milestones.
KEY POINTS
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.
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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