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A $120M flu vaccine collaboration that nobody noticed—until it became the foundation for the Pfizer-BioNTech COVID-19 partnership that generated $75B+ in combined revenue. The deal established the relationship and profit-sharing template that enabled Comirnaty's 11-month development.
Pfizer and BioNTech entered a collaboration to develop mRNA-based influenza vaccines using BioNTech's proprietary mRNA platform technology. Pfizer paid $120M upfront and BioNTech is eligible for up to $305M in development and commercial milestones. This deal established the Pfizer-BioNTech partnership that later became the foundation for the COVID-19 vaccine collaboration (BNT162b2/Comirnaty).
30M US cases/yr · $8.0B Global influenza vaccines + antivirals
Seasonal influenza remains a major public health burden. mRNA-based influenza vaccines are in late-stage development as potential replacements for egg-based manufacturing. Combination flu/COVID vaccines also in development.
Current: egg-based (Sanofi, Seqirus), cell-based (Seqirus/Flucelvax), recombinant (Sanofi/Flublok). mRNA pipeline: Moderna, Pfizer/BioNTech. Key players: Sanofi (market leader), Seqirus, Moderna, Pfizer/BioNTech.
Pfizer paid $120M upfront for mRNA influenza vaccine development using BioNTech platform.
Pfizer/BioNTech mRNA flu+COVID combination met one of two primary immunogenicity objectives (comparable COVID-19 responses) but failed non-inferiority against influenza B; companies evaluating reformulation.
Quadrivalent modified-mRNA influenza vaccine showed superior relative efficacy (~34.5%) vs Sanofi's Fluzone in a ~18,000-adult Phase 3 (2022-23 season), published in NEJM (NEJMoa2416779); higher reactogenicity than comparator.
Standalone modified-mRNA flu vaccine delivered a positive pivotal Phase 3 (NEJM, Nov 2025), superior to Fluzone; the flu/COVID combination missed influenza B non-inferiority (Aug 2024) and is being reformulated. The 2018 collaboration's core asset class has reached late-stage proof of concept.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Pfizer Inc. / BioNTech SE (this deal) | 2018 | $425M | 59 |
| Pfizer Inc. / BioNTech SE | 2020 | $748M | 100 |
| Pfizer Inc. / FoldRx Pharmaceuticals | 2010 | — | 99 |
| Pfizer Inc. / Medivation Inc. | 2016 | $14.0B | 86 |
| Pfizer Inc. / Wyeth | 2009 | $68.0B | 86 |
| Pfizer Inc. / Warner-Lambert Company | 2000 | $90.0B | 83 |
| Pfizer Inc. / Arvinas, Inc. | 2021 | $2.4B | 77 |
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More: 2018 deals · Pfizer Inc. deals · Infectious Disease deals