December 21, 2016 / 7:10 AM / 8 months ago

BRIEF-BioInvent enters research collaboration, issues new shares to Pfizer

Dec 21 (Reuters) - BioInvent

* Says announces cancer immunotherapy research collaboration and license agreement with Pfizer and issues new shares to Pfizer

* Says pfizer makes a $6 million equity investment in new shares in BioInvent

* Says under terms of deal, Pfizer will pay BioInvent approximately $10 million in early payments, including an upfront payment, early research funding, and a $6 million equity investment in new shares of BioInvent at a subscription price of SEK 2.56 per share

* Says assuming five antibodies are developed through to commercialization, BioInvent would be eligible for potential future payments related to certain development milestones, which could amount to more than $0.5 billion through the term of the deal, as well as up to double digit royalties related to any potential products that may result from the collaboration Source text for Eikon: Further company coverage: (Stockholm Newsroom)

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