US-based Pfizer, Inc. and Shanghai-based LianBio have recently 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.”

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.