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Under the terms of the agreement, Pfizer will provide $70 million toward in-licensing and co-development.
Pfizer and LianBio, a biotech company located in China, announced on Nov. 19, 2020 that they are collaborating to develop and commercialize pharmaceutical products in Greater China.
Under the terms of the agreement, Pfizer will provide $70 million toward in-licensing and co-development, a LianBio press release said. Products from LianBio will be presented to Pfizer for joint development and Pfizer will obtain commercial rights to jointly developed assets.
“We are honored to partner with Pfizer, a significant pioneer in the industry, to build upon their extensive commercial engine in Greater China, as well as tap into their relationships with leading physicians specializing in a broad range of therapeutic areas,” said Konstantin Poukalov, managing director, Perceptive Advisors, and executive chairman of LianBio, in the press release. “LianBio’s well-established sourcing capabilities, derived from Perceptive Advisors and other world class investors, will enable our partnership to bring precision-based medicines to patients in Greater China. This deal also provides LianBio additional non-dilutive funding to build out and advance our robust and diverse pipeline of innovative therapies targeting a variety of diseases.”
“Pfizer shares a vision with LianBio and their founders, Perceptive Advisors: driving development of and access to best-in-class medical breakthroughs across the China market,” added Doug Giordano, senior vice-president, Pfizer Worldwide Business Development, in the press release. “Consistent with this vision, our new strategic alliance with LianBio will expand our ability to partner across the biotech ecosystem and enable us to deliver important medical innovations to patients in China.”