Medicus Pharma and Pfizer Sign $12M Upfront, Up to $1B Milestone License for CD228-Targeting Antibody-Drug Conjugate PF-08046031
Medicus Pharma (NASDAQ: MDCX) announced Wednesday September 2, 2026 a Co-Development and License Agreement with Pfizer (NYSE: PFE) granting Medicus an exclusive, sublicensable, royalty-bearing worldwide license to develop, manufacture, and commercialize PF-08046031 (CD228V, an early clinical-stage antibody-drug conjugate targeting melanotransferrin / CD228). Terms: $12 million upfront cash to Pfizer, an additional $15 million payable on the first anniversary of the effective date, plus up to $1 billion+ in aggregate milestone payments and low-double-digit tiered royalties on future net sales. Pfizer paid Medicus $2 million in development funding restricted to the CD228V program. Medicus retains sole authority and control of development, manufacture, regulatory approval, and commercialization; Pfizer holds review-and-comment rights on development plans and an option to fund development from the first registrational trial. PF-08046031 originated in the Seagen pipeline acquired by Pfizer in December 2023 and represents one of several Seagen-descended assets Pfizer has out-licensed since the acquisition.