Pfizer Inc. (NYSE:PFE) and Innovent Biologics, Inc. (01801.HK), today announced the companies have entered into a strategic global licensing and collaboration agreement for the research and development of 12 promising new breakthrough early-stage and de novo cancer medicines. The partnership includes licensing, co-development, and co-commercialization opportunities across a diverse portfolio of antibody-drug conjugates (ADCs) with novel differentiated payloads and multi-specific antibodies with differentiated immune-engaging features and unique designs.

The strategic collaboration brings together Pfizer's deep scientific expertise, global clinical development capabilities, regulatory leadership and commercial scale with Innovent's scientific discovery and clinical capabilities in oncology innovation, which are highly complementary to each company's core areas of interest.

The agreement spans a portfolio of 12 programs comprising eight Innovent-originated early-stage programs and four Pfizer-proposed discovery programs. The companies will co-develop and share costs for select programs as they advance these programs through clinical development.