Pfizer Enters Into An Exclusive Global Collaboration And License Agreement With Yaopharma For YP05002, A Phase 1 Glucagon-like Peptide 1 Receptor For Chronic Weight Management; Yaopharma Will Receive An Upfront Payment Of $150M And Is Eligible To Receive Milestone Payments Of Up To $1.935B

Pfizer Inc. (NYSE:PFE) today announced it has entered into an exclusive global collaboration and license agreement with YaoPharma, a subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Limited (02196.HK and 600106.SH), a leading innovation-driven global healthcare company, for the development, manufacturing and commercialization of YP05002, a small molecule glucagon-like peptide 1 (GLP-1) receptor agonist currently in Phase 1 development for chronic weight management.

"We look forward to contributing our expertise and resources to continue the development of this investigational GLP-1 small molecule which complements and strengthens our growing portfolio of novel candidates for treating obesity and its adjacent diseases," said Chris Boshoff, M.D., Ph.D., Chief Scientific Officer and President, Research & Development, Pfizer. "Cardiometabolic research is a strategic priority for Pfizer that has the potential to be a key driver of growth for our business."

Under the terms of the agreement, 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 $150 million and is eligible to receive milestone payments associated with certain development, regulatory and commercial milestones up to $1.935 billion, as well as tiered royalties on sales, if approved.

Pfizer plans to conduct combination studies of YP05002 with its glucose-dependent insulinotropic polypeptide receptor (GIPR) antagonist PF-07976016 currently in Phase 2 development and with other small molecules in its pipeline.