Pfiz­er's hot start to the new year con­tin­ues with li­cens­ing deal for mys­te­ri­ous biotech's sol­id tu­mor bis­pecifics

Pfiz­er has been quite busy as the new year kicked off, and Tues­day the Big Phar­ma struck yet an­oth­er deal — this time with a lit­tle-known Cal­i­for­nia biotech.

It’s a part­ner­ship worth more than $1 bil­lion when all is said and done, with Pfiz­er en­list­ing the aid of Dren Bio in a bis­pe­cif­ic an­ti­body col­lab­o­ra­tion. Dren gets $25 mil­lion up­front to de­vel­op one of its can­di­dates to­ward two sol­id tu­mor tar­gets se­lect­ed by Pfiz­er, and Pfiz­er has the op­tion to nom­i­nate more tar­gets in the fu­ture, per a press re­lease.

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