Pfizer invests $25M in Zentalis, will advise on development of WEE1 program

Zentalis will gain access to Pfizer’s clinical trial expertise along with the pharma’s $25 million equity investment as it develops its WEE1 inhibitor, but the biotech won’t have to surrender rights to a molecule it believes can be best-in-class.

Pfizer Inc. (NYSE:PFE) will pay Zentalis Pharmaceuticals Inc. (NASDAQ:ZNTL) $26.21 per share for the equity stake, representing a 20% premium to its closing price of $21.84 on Tuesday. The deal gives Pfizer a stake of roughly 2% in the biotech...