Medicus Pharma subsidiary signs co-development deal with Pfizer for antibody-drug conjugate
Medicus Pharma Inc. licensed rights to Pfizer's early clinical-stage asset CD228V, agreeing to pay up to $27 million in near-term fees plus potential milestones exceeding $1 billion.
On September 2, 2026, Medicus Pharma Ltd., through its wholly owned subsidiary Medicus Pharma Inc., entered into a Co-Development and License Agreement with Pfizer Inc.1
Under the agreement, Pfizer granted the company an exclusive, sublicensable, royalty-bearing, worldwide license under specified Pfizer patent rights, and a non-exclusive, sublicensable, royalty-bearing, worldwide license under related platform patent rights and know-how, to develop, manufacture and commercialize PF-08046031 ("CD228V"), an early clinical-stage antibody-drug conjugate targeting melanotransferrin (CD228), for the treatment, prevention, diagnosis, control and maintenance of all human diseases and disorders.1 The filing does not specify any particular disease indication such as cancer for this program.
The arrangement is structured so that Pfizer is expected to remain involved in the CD228V program following the effective date1, and Pfizer is contributing funding toward development, will receive periodic progress reports, and holds an option to elect to fund all or part of development from and after the first pivotal trial1. Medicus said it retains sole authority over and control of the development, manufacture, regulatory approval and commercialization of CD228V and products incorporating it1.
Financially, the company paid Pfizer a one-time, non-refundable upfront payment of $12.0 million on the effective date and is obligated to pay an additional $15.0 million on the first anniversary1. Separately, Pfizer paid the company a one-time, non-refundable Development Funding Payment of $2.0 million, which must be applied solely to fund development activities for CD228V1.
Pfizer is also eligible for further payments: the aggregate potential development, regulatory and sales milestone payments under the agreement exceed $1.0 billion, assuming achievement of all applicable milestones across multiple indications and commercial thresholds, plus low double-digit royalties on net sales per calendar year1. Unless terminated earlier, the agreement continues on a product-by-product and country-by-country basis until expiration of the applicable royalty term.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.