Pfizer licenses SSGJ-707

SSGJ-707 targets PD-1 and VEGF and is in trials for non–small-cell lung cancer, metastatic colorectal cancer, and gynecologic tumors

Pfizer Inc. announces an exclusive global licensing agreement, excluding China, with 3SBio Inc., a leading Chinese biopharma company, for the development, manufacturing, and commercialization of SSGJ-707, a bispecific antibody currently undergoing several clinical trials in China.

What are the terms of Pfizer’s licensing agreement with 3SBio for SSGJ-707?

Under the agreement, 3SBio and its subsidiaries Shenyang Sunshine Pharmaceutical Co., Ltd. and 3S Guojian Pharmaceutical (Shanghai) Co., Ltd. will grant Pfizer an exclusive global license to develop, manufacture, and commercialize SSGJ-707 worldwide, excluding China. Pfizer also receives an option for marketing rights in China.

How much will 3SBio receive from Pfizer under the SSGJ-707 deal?

3SBio will receive an upfront payment of $1.25 billion and is eligible for milestone payments of up to $4.8 billion, along with tiered double-digit royalties on sales of SSGJ-707, if approved.

When is the first phase 3 trial of SSGJ-707 expected to begin?

3SBio plans to initiate the first phase 3 study of SSGJ-707 in China in 2025.

What conditions must be met before the Pfizer–3SBio transaction closes?

The transaction is expected to close in the third quarter, subject to customary closing conditions, including regulatory approvals and 3SBio shareholder approval.

What equity investment will Pfizer make in 3SBio as part of the agreement?

Upon closing, Pfizer will make a $100 million equity investment in 3SBio under a securities subscription agreement between the parties.