Pfizer has transferred worldwide rights to PF-08046031 (also known as CD228V), an early-stage antibody-drug conjugate inherited from Seagen, to Medicus Pharma.
Medicus will pay Pfizer $12 million upfront and another $15 million after one year. Potential development, regulatory and sales milestones could exceed $1 billion, with Pfizer also retaining tiered royalties.
Pfizer discontinued the Phase 1 program in March 2026 for strategic or business reasons after only 11 patients had enrolled; no safety or efficacy concerns were reported.
The deal adds to concerns about the value of Pfizer’s $43 billion Seagen acquisition. The transaction was promoted largely around Seagen’s ADC platform and pipeline, but Pfizer has now shed or halted several inherited programs.
The setback follows the Phase 3 failure of sigvotatug vedotin, another Seagen-derived ADC, in previously treated nonsquamous non-small-cell lung cancer. Pfizer says a first-line combination trial remains ongoing.
The acquisition still includes marketed oncology products—including Padcev, Adcetris, Tukysa and Tivdak—and Pfizer originally projected roughly $3.1 billion in Seagen-related revenue for 2024 and about $10 billion annually by 2030.
Sources:
Pfizer punts Seagen ADC, further muddying value of the ...
Pfizer Completes Acquisition of Seagen
Pfizer Invests $43 Billion to Battle Cancer
Done deal: Pfizer completes $43B acquisition of Seagen, doubling its oncology pipeline
Pfizer scraps Seagen-developed ADC for solid tumors
Pfizer buys Seagen for $43B, boosts access to cancer drugs
Pfizer snaps up Seagen for $43 billion - C&EN
Pfizer hands former Seagen ADC to Medicus in USD 1b-plus deal
With $43B buyout, Pfizer sees cancer specialist Seagen as a 'goose' laying 'golden eggs'
Excluding Contributions from Comirnaty(1) and Paxlovid, Revenues ...
Pfizer calls halt to Phase I development of Seagen- ...
Pfizer CEO says it will be able to deliver Seagen's cancer ... - CNBC
Pfizer's first new ADC from Seagen buy fails ph. 3 NSCLC ...