“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,” says Chris Boshoff, 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.”

An upfront payment of USD 150 million

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 USD 150 million and is eligible to receive milestone payments associated with certain development, regulatory and commercial milestones up to USD 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.