$100 Million Investment Explores Ten Single-asset Development Programs

Pfizer Inc. and Flagship Pioneering, Inc. today announced a partnership to create a new pipeline of innovative medicines. The focus will be addressing unmet needs within Pfizer's core strategic areas of interest, including in broad patient populations and diseases with high potential to benefit from diverse technology platforms and modalities.

Pfizer will fund and have options to acquire development programs.

Under the terms of the novel agreement, Flagship and Pfizer will each invest $50M upfront to explore opportunities to develop ten single-asset programs by leveraging Flagship's ecosystem of more than 40 human health companies and multiple biotechnology platforms.

To date, Flagship has deployed over $3.4 billion in capital toward the founding and growth of its pioneering companies alongside more than $26 billion of follow-on investments from other institutions.

Per the new agreement, Flagship and its bioplatform companies can receive up to $700M in milestones and royalties for each successfully commercialized program.

"At Pfizer, we are expanding our efforts to pursue potential breakthrough science with unique approaches and funding mechanisms designed to leverage the dynamic scientific ecosystem," said Mikael Dolsten, M.D., Ph.D., Chief Scientific Officer and President, Worldwide Research, Development and Medical of Pfizer, in a press release on July 18, 2023.

"This collaboration is an exciting opportunity for Pfizer to bring deep scientific expertise and apply our development and regulatory strength to Flagship's diverse portfolio of technology platforms, translating early-stage innovation to potential medicines."