Flagship Pioneering, Inc. and Pfizer Inc. have partnered to create a new pipeline of innovative medicines with each company investing $50 million upfront to research and develop 10 single-asset programs leveraging Flagship’s ecosystem of more than 40 human health companies and multiple biotechnology platforms. Pfizer will fund and have an option to acquire each selected development program. Flagship and its bioplatform companies will be eligible to receive up to $700 million in milestones and royalties for each successfully commercialized program.

Pioneering Medicines, an initiative of Flagship Pioneering, and Pfizer will lead the exploration process to establish a potential portfolio with a focus on addressing unmet needs within Pfizer’s core strategic areas of interest, including in broad patient populations and diseases with the potential to benefit from a range of technology platforms and modalities.

“Flagship and Pfizer enter into this strategic alliance driven by a shared sense of urgency to develop novel medicines that make a difference for patients,” said Paul Biondi, president, Pioneering Medicines, and Executive Partner, Flagship Pioneering. “This new partnership brings together the best of our organizations to maximize discovery and development potential from inception to impact through a unique innovation supply chain that sets us on a path to potentially realize transformational medicines more quickly and effectively.”

“At Pfizer, we are expanding our efforts to pursue potential breakthrough science with unique approaches and funding mechanisms designed to leverage the dynamic scientific ecosystem,” said Mikael Dolsten, chief scientific officer and president, worldwide research, development and medical of Pfizer. “This collaboration is an exciting opportunity for Pfizer to bring deep scientific expertise and apply our development and regulatory strength to Flagship’s diverse portfolio of technology platforms, translating early-stage innovation to potential medicines.”