Flagship Pioneering has entered a collaboration with Pfizer to develop a new innovative therapy pipeline.

The parties will make an investment of $50m each to assess prospects for developing ten single-asset programmes.

The companies will utilise Flagship’s ecosystem of more than 40 human health firms and biotechnology platforms.

Pfizer will hold the option to buy each chosen development programme.

Flagship and its bioplatform firms are entitled to receive milestone and royalty payments of up to $700m for each programme that successfully enters the market.

A Flagship Pioneering initiative, Pioneering Medicines, is partnering with the research and development leadership of Pfizer and will oversee the discovery process to aid in quick portfolio development.

The research will focus on addressing unmet needs within the key areas of interest to Pfizer.

Flagship Pioneering executive partner and Pioneering Medicines president Paul Biondi stated: “Flagship and Pfizer enter this strategic alliance driven by a shared sense of urgency to develop novel medicines that make a difference for patients.

“This new partnership brings together the best of our organisations to maximise discovery and development potential from inception to impact through a unique innovation supply chain that sets us on a path to potentially realise transformational medicines more quickly and effectively.”

Pfizer made an investment of $25m in genome-editing biopharmaceutical company Caribou Biosciences in July 2023.