Flagship Pioneering and Pfizer invest in drug discovery

19 July 2023

Massachusetts, USA-based biotech incubator Flagship Pioneering and US pharma giant Pfizer (NYSE: PFE) have announced a novel agreement to create a new pipeline of innovative medicines.

Flagship and Pfizer are each contributing $50 million upfront to explore opportunities to develop 10 single-asset programs by leveraging Flagship's ecosystem of more than 40 human health companies and multiple biotechnology platforms.

In addition, Pfizer will fund and have an option to acquire each selected development program. Flagship and its bioplatform companies will be eligible to receive up to $700 million in milestones and royalties for each successfully commercialized program.

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