Drug giant Pfizer and life-sciences investment firm Flagship Pioneering have announced their partnership on a program focused on developing innovative medicines. This collaboration aims to address unmet needs in Pfizer’s core areas of interest.
Significant Investment for Promising Opportunities
Both Pfizer and Flagship have committed an upfront investment of $50 million each. They will work together to explore the potential of 10 single-asset programs. Leveraging Flagship’s vast ecosystem, consisting of over 40 human-health companies and multiple biotechnology platforms, this partnership aims to foster innovation and drive significant advancements in drug development.
Pfizer’s Funding and Acquisition Option
As part of the agreement, Pfizer will provide the necessary funding for each selected development program. Moreover, the company has an option to acquire these programs. This strategic move allows Pfizer to further expand its portfolio of innovative therapies while ensuring that promising projects have the financial support required to reach their full potential.
Milestones and Royalties for Successful Commercialization
For each successfully commercialized program, Flagship and its affiliated bioplatform companies stand to receive up to $700 million in milestones and royalties. This incentivizes the development of transformative medicines that can bring substantial benefits to patients and contribute to advancing healthcare.
About Flagship Pioneering
Based in Cambridge, Massachusetts, Flagship Pioneering focuses on investing in companies dedicated to therapeutics, health technology, and agricultural technology. The firm has built a strong reputation in the industry, particularly for its support of vaccine maker Moderna.
For more information, please visit Flagship Pioneering’s website or Pfizer’s website.