Boston-based Ko Da has signed a $4.4 billion deal with pharmaceuticals giant Pfizer, a deal that includes a $2 billion investment.
The deal will close this year.
The company, which was founded by Dr. Ko Da, will have its headquarters in Medford, Massachusetts.
The firm will also create a new research and development office in Boston.
The new office will be called the Pfizer Technology Center and will be led by Dr.-Ing.
Dr. Andrew M. Miller, president of Pfizer Biomedical Research Institute.
Dr.-in-residence and Pfizer chairman and CEO Richard W. Davis will serve as Pfizer’s chairman of the board of directors.
In an emailed statement, Pfizer said: “Ko Da Pharmaceutical is one of the fastest-growing biotech companies in the world.
We’re pleased to be working with a company that is focused on building a stronger Pfizer biopharmaceutical company that will benefit our patients, communities and society around the world.”
The company has been growing at a strong clip for the past several years, with revenue of $1.3 billion in the second quarter of 2019.
The group is also a member of the Biopharmaceutics Innovation Alliance, which aims to promote the development of biosimilar products for pharmaceuticals and medical devices.
The agreement is the latest in a series of Pfizers investments in Boston, including a $1 billion deal for a new campus in the city in 2019.
Pfizer also is a member in 2020 of the Greater Boston Innovation Alliance.
Pfizers acquisition of Medford-based Pharmaceuticals International, which makes generics of drugs like Cephalon and Gilead Sciences, will boost the company’s overall presence in Boston and its growing presence in the Boston area.
The Boston-headquartered company had more than $7 billion in revenue in 2019, according to its latest annual report filed with the Securities and Exchange Commission.
It was not immediately clear if Pfizer planned to announce the deal at the annual meeting of the Boston Medical Society.
“We’re thrilled to be joining Pfizer to grow and serve our communities, and we are committed to working with the company and the community to develop new ways to improve the quality of life for patients, patients and their families,” said Dr. James D. O’Malley, chairman and chief executive officer of Ko Da.
“Ko da is a leading innovator in the pharmaceutical industry, and this transaction will allow us to continue our leadership position in Boston.”