Pfizer Licenses Cancer Drug Candidate SSGJ-707 from 3SBio
Pfizer Inc. has entered into an exclusive global licensing agreement with Chinese firm 3SBio Inc. for the cancer drug candidate SSGJ-707.
New York – Pfizer Inc. has acquired exclusive worldwide rights, excluding China, to the cancer drug candidate SSGJ-707 through a licensing agreement with 3SBio Inc. The deal covers development, manufacturing, and commercialization of the drug outside of China.
SSGJ-707 is a bispecific antibody that targets both PD-1 and VEGF pathways. The drug is currently undergoing several clinical trials in China for non-small cell lung cancer, metastatic colorectal cancer, and gynecological tumors. Initial efficacy and safety data have shown promise.
Under the terms of the agreement, 3SBio will receive an upfront payment of $1.25 billion. The company is also eligible to receive milestone payments up to $4.8 billion tied to development, regulatory, and commercial achievements. Additionally, 3SBio may receive tiered, double-digit royalties on SSGJ-707 sales upon potential approval.
The transaction is expected to close in the third quarter. Pfizer plans to manufacture the drug substance in North Carolina and the drug product in Kansas. Pfizer will also make a $100 million equity investment in 3SBio as part of the agreement.