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China's Fosun Pharma announced that its subsidiaries, Chongqing Yao Pharmaceutical Company, Shanghai Fosun Pharmaceutical Industrial Development Company Limited, and Pfizer Inc. have entered into an exclusive collaboration and license agreement.
Under this agreement, Yao Pharma grants Pfizer an exclusive worldwide license for the development, use, manufacturing, and commercialisation of oral small-molecule glucagon-like peptide-1 receptor (GLP-1R) agonists, including YP05002, and any products containing such oral small molecule GLP-1R agonists as an active ingredient.
The license covers all indications for therapeutic, diagnostic, and prophylactic human and veterinary use. Under the terms of the agreement, Yao Pharma will complete an ongoing YP05002 Phase 1 clinical trial in Australia and grants Pfizer an exclusive license to further develop, manufacture and commercialize YP05002 worldwide. Yao Pharma 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.
The licensed small-molecule GLP-1R agonists were independently researched and developed by Fosun Pharma's subsidiary Yao Pharma with proprietary intellectual property rights and are intended for the treatment of metabolic diseases, with potential indications including but not limited to chronic weight management, type 2 diabetes, metabolic dysfunction-associated steatohepatitis (MASH), also known as non-alcoholic steatohepatitis (NASH), among others.
