Oncolytics Biotech Inc T.ONC

RE:Pfizer partners with startup Flagship valued at US$7 Billion

[Noteable]

Should read: July 18, 2023 - Pfizer and Flagship join forces on the hunt for new drugs.

" The collaboration involves Flagship’s “Pioneering Medicines” (early stage development) initiative, which has struck similarly structured deals in the recent past ..." 

"Flagship pitches (it's Pioneering Medicines Initiative)  as a way to tap into all the research those companies generate, pick out promising ideas they may not have time to develop and, potentially, advance them together with partners."  Another way of describing this initative is as an early exploration of yet-to-be determined targets for possible further pre-clinical development.

As cited in the below referenced link .. "Ever on the edge of “patent cliffs,” big drugmakers like Pfizer routinely hunt for promising new drugs in the labs of smaller biotech companies."

"“Flagship and Pfizer enter into this strategic alliance driven by a shared sense of urgency to develop novel medicines that make a difference for patients,” Paul Biondi, a former dealmaking executive at Bristol Myers Squibb and the president of the Pioneering Medicines initiative, said in a statement."

https://www.biopharmadive.com/news/pfizer-flagship-research-alliance-10-drugs-biondi/688144/