Pfizer has entered into a global collaboration and license agreement with YaoPharma for the development, manufacturing and commercialization of YP05002, a small-molecule GLP-1 receptor agonist currently in phase 1 development for chronic weight management.
YaoPharma, a subsidiary of Shanghai Fosun Pharmaceutical Group, will complete the ongoing phase 1 clinical trial and grant Pfizer exclusive worldwide rights to further develop and commercialize the therapy, according to a Dec. 9 news release.
Pfizer will pay $150 million upfront and may pay up to $1.935 billion in development, regulatory and commercial milestone payments, along with tiered royalties on sales if the therapy is approved.
Pfizer also plans to evaluate YP05002 in combination with its phase 2 GIPR antagonist PF-07976016 and other small molecules in its cardiometabolic pipeline.
The agreement follows Pfizer’s Nov. 7 announcement that it will acquire Metsera, a clinical-stage obesity drugmaker, in a deal that could exceed $10 billion. Pfizer prevailed in a competitive bidding process with Novo Nordisk and expects the acquisition to strengthen its position in the global obesity drug market.
