Friday, November 20, 2020
Pfizer, Inc. and LianBio announced that they have entered into a collaboration aimed at developing and commercializing transformative pharmaceutical products in Greater China. LianBio, founded by Perceptive Advisors, forged a collaboration with Pfizer to pursue an innovative business development opportunity. Both companies will be dedicated to advancing best-in-class therapies for patients, leveraging both LianBio’s and Pfizer’s clinical development, regulatory and commercial expertise.
“We are honored to partner with Pfizer, a significant pioneer in the industry, to build upon their extensive commercial engine in Greater China, as well as tap into their relationships with leading physicians specializing in a broad range of therapeutic areas,” said Konstantin Poukalov, Managing Director, Perceptive Advisors and Executive Chairman of LianBio. “LianBio’s well-established sourcing capabilities, derived from Perceptive Advisors and other world class investors, will enable our partnership to bring precision-based medicines to patients in Greater China. This deal also provides LianBio additional non-dilutive funding to build out and advance our robust and diverse pipeline of innovative therapies targeting a variety of diseases.”
Pierre Gaudreault, President of Pfizer Biopharmaceuticals Group, China, said, “Pfizer’s purpose is breakthroughs that change patients’ lives. To fulfill our purpose, we must be able to get our innovative medicines and vaccines into the hands of patients who need them. Through this partnership with LianBio, we will be able to expand access to innovative medicines in Greater China and address unmet patient needs.”
“Pfizer shares a vision with LianBio and their founders, Perceptive Advisors: driving development of and access to best-in-class medical breakthroughs across the China market. Consistent with this vision, our new strategic alliance with LianBio will expand our ability to partner across the biotech ecosystem and enable us to deliver important medical innovations to patients in China,” said Doug Giordano, Senior Vice President, Pfizer Worldwide Business Development.
In addition to Pfizer’s participation in LianBio’s recent crossover financing, under the terms of the collaboration, Pfizer will contribute up to $70M of non-dilutive capital toward in-licensing and co-development. At LianBio’s discretion, products will be presented to Pfizer for joint development. Pfizer will have a right of first negotiation to obtain commercial rights to jointly developed assets and each will carry separate financial considerations. During the collaboration, Pfizer may provide in-kind support for marketing, development and regulatory activities.