Pfizer Inc. (NYSE: PFE) and Dren Bio, Inc both have confirmed that they have inked a joint research/license agreement. This strategic partnership will leverage Dren Bio's proprietary targeted myeloid cell engager/phagocytosis platform to tackle the discovery and development of therapeutic bispecific antibodies to selected cancer targets.

Dren Bio's experience in creating therapeutic antibodies is highlighted in this agreement, which is the first collaborative study to use its patented platform to exploit myeloid cells in illness. It offers a distinct strategy that can offer patients novel therapeutic molecules in a variety of therapeutic domains starting with bone marrow.

Furthermore, Pfizer has demonstrated a strong obligation to develop novel medicinal treatments. As a result, the organization is an excellent strategic partner in assisting Dren in achieving its goals. Pfizer is also excited to work with Dren Bio on new strategies to involve myeloid cells in cancer treatment, based on Pfizer's renowned leadership position in oncology research.

Pfizer will also give Dren Bio a lump amount of $ 25 million in cash, and Dren Bio will compensate Pfizer a total of $1 billion, which includes payments for future development, approval processes, and commercial objectives. Pfizer will be liable for all remaining research, production, licensing, government hurdles, and marketing activities after Dren Bio and Pfizer collaboratively move the selected cancer-targeting programme to the search of clinical candidates.

Additionally, as per the deal, Dren Bio retains the right to obtain royalties on future sales of each of Pfizer's internationally licensed target-specific medications. Pfizer further retains the right, to nominate additional cancer targets licensed from Dren Bio, subject to additional cash payments and future royalties.

Moreover, Dren Bio holds worldwide exclusive rights to the Platform and all other therapeutic targets under development in its pipeline with the exception of medicines developed for Pfizer-licensed targets.