Yao Pharma, a subsidiary of Fosun Pharma, and Pfizer have entered into an exclusive collaboration and licence 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 licence 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 licence to further develop, manufacture and commercialise YP05002 worldwide. Yao Pharma 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.

"The partnership with Pfizer marks the international recognition of Yao pharma's R&D capabilities. We firmly believe that only through openness and collaboration can the value of innovation be maximised. Leveraging Pfizer's exceptional global development experience and commercialisation network, along with Yao Pharma's profound expertise in small molecule R&D and manufacturing, our shared goal is to enable this innovative drug candidate to be developed and commercialised in order to benefit patients worldwide more quickly and broadly," Liu Qiang, Chairman, Yao Pharma, stated.

The licensed small-molecule GLP-1R agonists were independently researched and developed by Yao Pharma with proprietary Intellectual Property (IP) 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. YP05002 is currently in Phase 1 clinical development in Australia.

"The global collaboration with Pfizer is another significant milestone in Fosun Pharma's strategy of innovation and internationalisation. Fosun Pharma is committed to addressing unmet clinical needs. We look forward to working with Pfizer to expedite the global development and commercialisation of YP05002, with the goal of working toward addressing the challenges of obesity and metabolic diseases for patients in need," said Chen Yuqing, Chairman, Fosun Pharma.