Pfizer partners with China's Innovent Biologics on $10.5 billion deal for 12 early-stage cancer programs

Pfizer announced a collaboration with Innovent Biologics of China to develop a suite of cancer therapies.

The agreement covers up to 12 early-stage antibody‑drug conjugates and multi‑specific antibodies, with a potential total value of $10.5 billion.

The partnership will be launched just before the ASCO annual meeting, signaling Pfizer’s continued focus on expanding its oncology pipeline through international collaborations.

By combining Pfizer’s global development capabilities with Innovent’s expertise in antibody engineering, the deal aims to accelerate the progression of these candidates toward later‑stage trials.