Pfizer signs exclusive collaboration and license agreement with YaoPharma

Pfizer (PFE) has entered into an exclusive global collaboration and license agreement with YaoPharma, a subsidiary of Shanghai Fosun Pharmaceutical, a global healthcare company, for the development, manufacturing and commercialization of YP05002, a small molecule glucagon-like peptide 1, or GLP-1, receptor agonist currently in Phase 1 development for chronic weight management. YaoPharma will complete an ongoing YP05002 Phase 1 clinical trial and grants Pfizer an exclusive license to further develop, manufacture and commercialize YP05002 worldwide. YaoPharma will receive an upfront payment of $150M and is eligible to receive milestone payments associated with certain development, regulatory and commercial milestones up to $1.935B, as well as tiered royalties on sales, if approved. Pfizer plans to conduct combination studies of YP05002 with its glucose-dependent insulinotropic polypeptide receptor antagonist PF-07976016 currently in Phase 2 development and with other small molecules in its pipeline.