IN THE hope of creating a pipeline of up to 10 new medicines, Pfizer has entered into a partnership with Flagship Pioneering, the companies announced this week, according to media reports.
Each firm will invest $50 million upfront, with Pfizer having the option to acquire each selected development program.
"We are expanding our efforts to pursue potential breakthrough science with unique approaches and funding mechanisms designed to leverage the dynamic scientific ecosystem," said Mikael Dolsten, Pfizer's Chief Scientific Officer.
The companies noted that the partnership will leverage Flagship's ecosystem of 45 human health companies and multiple biotechnology platforms.
Flagship's Pioneering Medicines initiative, working with Pfizer's R&D leadership, may lead the exploration process to drive rapid potential portfolio creation.
Pfizer will fund the programs, while Flagship is eligible to receive up to $700 million in milestones and royalties for each successfully commercialised program.
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