The Life Sciences team advised Flagship Pioneering, Inc. on its partnership with Pfizer Inc. (NYSE: PFE) to create a new pipeline of innovative medicines. Under the terms of the novel agreement, Flagship and Pfizer will each invest $50 million upfront to explore opportunities to develop 10 single-asset programs by leveraging Flagship's ecosystem of more than 40 human health companies and multiple biotechnology platforms. Pfizer will fund and have an option to acquire each selected development program. Flagship and its bioplatform companies will be eligible to receive up to $700 million in milestones plus royalties for each successfully commercialized program.
Pioneering Medicines, an initiative of Flagship Pioneering, working in collaboration with Pfizer's research and development leadership, will lead the exploration process to drive rapid potential portfolio creation. The focus will be addressing unmet needs within Pfizer's core strategic areas of interest, including in broad patient populations and diseases with high potential to benefit from a diverse range of technology platforms and modalities.
Flagship Pioneering conceives, creates, resources, and develops first-in-category bioplatform companies to transform human health and sustainability.
The Goodwin team was led by Kingsley Taft, Ed Amer, Nancy Urizar and Brittany Morreale, and included Will Ogden, Libby Sousa, Dan Karelitz, Erika Pey, with invaluable assistance from Chris Denn, and Jackie Serrano.
For more details, read the press release and coverage in Endpoints News, Fierce Biotech, MedCity News and Reuters.