Innovent Biologics and Pfizer form global partnership for oncology drug development
Friday, May 29, 2026
Innovent Biologics and Pfizer have entered into a global strategic collaboration to develop 12 early-stage and newly discovered cancer medicines. The agreement covers the research and development of antibody-drug conjugates (ADCs) and multi-specific antibodies designed with novel immune-engaging features.
The partnership combines Innovent’s oncology discovery and early clinical development capabilities with Pfizer’s global expertise in research, clinical development, regulation and commercialisation.
The collaboration includes eight early-stage programmes developed by Innovent and four discovery-stage programmes proposed by Pfizer. Both companies will jointly develop selected programmes and share development costs as the projects move through clinical studies.
Under the agreement, Innovent will lead development through Phase 1 clinical trials using its discovery platform and early-stage clinical expertise. Pfizer will then lead future global development activities.
For four programmes, the companies will jointly develop the medicines worldwide, share development costs and co-commercialise them in the United States and Europe. Innovent will retain rights in Greater China for these programmes.
Pfizer will receive exclusive rights outside Greater China for another four programmes and will cover most of the development costs. The company will also receive exclusive global rights for four additional programmes and will be responsible for all worldwide development costs.
Under the financial terms, Innovent will receive an upfront payment of $650 million and could receive up to $9.85 billion in development, regulatory and commercial milestone payments. The total potential value of the agreement could reach $10.5 billion. Innovent will also be eligible to receive royalties on approved products, while profits from jointly developed and commercialised programmes in the US and Europe will be shared between the two companies.
Source: prnewswire.com
