Pfizer: R&D collaboration with German biotech firm
(CercleFinance.com) - Pfizer has signed a multi-year research and development (R&D) collaboration agreement with Germany's BioNTech, a rapidly growing biotechnology company that is focused on immunotherapies.
Under the terms of the agreement, BioNTech and Pfizer will jointly conduct research and development activities to develop flu vaccines.
Pfizer will assume sole responsibility for further clinical development and commercialization, following BioNTech's completion of a first clinical trial.
BioNTech will receive 120 million dollars in upfront, equity and near-term research payments, and up to an additional 305 million dollars in potential development, regulatory and commercial milestone payments.
The biotech firm is also entitled to receive royalty payments associated with worldwide sales if the program reaches commercialization.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Under the terms of the agreement, BioNTech and Pfizer will jointly conduct research and development activities to develop flu vaccines.
Pfizer will assume sole responsibility for further clinical development and commercialization, following BioNTech's completion of a first clinical trial.
BioNTech will receive 120 million dollars in upfront, equity and near-term research payments, and up to an additional 305 million dollars in potential development, regulatory and commercial milestone payments.
The biotech firm is also entitled to receive royalty payments associated with worldwide sales if the program reaches commercialization.
Copyright (c) 2018 CercleFinance.com. All rights reserved.