Pfizer, Innovent Biologics sign $10.5bn cancer drug development deal

Pfizer and Innovent Biologics have signed a global licensing and collaboration agreement worth up to $10.5bn for the research and development of a portfolio of 12 early-stage cancer medicines. Innovent Biologics will receive $650m upfront and could earn up to $9.85bn in additional milestone payments. The portfolio consists of eight drug candidates originating from Innovent Biologics and four discovery programmes proposed by Pfizer. Credit: Jonathan Weiss / Shutterstock.com. Pfizer and Innovent Biologics have signed a global licensing and collaboration agreement worth up to $10.5bn for the research and development of a portfolio of 12 early-stage cancer medications. The agreement covers…

Source: Pharmaceutical Technology