Madrigal Pharmaceuticals Inc. announced that it has entered into an exclusive global license agreement with Pfizer for ervogastat, an oral DGAT-2 inhibitor currently in Phase 2 development for metabolic dysfunction-associated steatohepatitis (MASH). The agreement grants Madrigal the rights to develop, manufacture, and commercialize ervogastat, as well as rights to two additional early-stage MASH pipeline assets. Under the terms of the agreement, Pfizer will receive an upfront payment of $50 million and is eligible for additional milestone payments and royalties on net sales.

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