Pfizer has signed a deal with Flagship Pioneering worth up to $7bn to develop new drug candidates using the venture firm’s large portfolio of biopharma companies.

Under the terms of the agreement, Pfizer and Flagship will each invest $50m upfront to develop a new pipeline of up to ten programmes for areas including internal medicine, oncology, infectious diseases, and immunology.

The new partners outlined in a statement that the collaboration will focus on addressing unmet needs within Pfizer's core therapeutic areas, including “broad patient populations and diseases with high potential to benefit from a diverse range of technology platforms and modalities”.

Flagship's drug discovery initiative, Pioneering Medicines, working in collaboration with Pfizer’s research and development leadership, will lead the exploration process.

Paul Biondi, president, Pioneering Medicines, and executive partner, Flagship Pioneering, said: “This new partnership brings together the best of our organisations to maximise discovery and development potential from inception to impact through a unique innovation supply chain that sets us on a path to potentially realise transformational medicines more quickly and effectively.”

Pfizer, which will gain access to Pioneering's research platform and preclinical study resources, will fund and have the option to acquire each selected development programme.

In exchange, Flagship and its bioplatform companies will be eligible to receive up to $700m in milestones and royalties for each successfully commercialised programme.

Mikael Dolsten, chief scientific officer and president, worldwide research, development and medical of Pfizer, said: “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.

“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.”

Flagship’s portfolio currently consists of over 40 companies, including Moderna, Denali Therapeutics, and Generate Biomedicines.

Last year, the venture firm signed an agreement with Novo Nordisk to develop new medicines for rare and cardio-metabolic diseases. The partners said they would initially aim to develop three to five research programmes within the first three years of the collaboration.

Source: pmlive.com