Pharmaceutical giant Pfizer has entered into an exclusive global licensing agreement with 3SBio for SSGJ-707.
Under the terms of the agreement, Pfizer will be responsible for the development, manufacturing and commercialisation of the bispecific antibody.
Pfizer will pay 3SBio $1.25bn upfront for the bispecific antibody, though 3SBio will also be eligible for milestone payments associated with certain development, regulatory and commercial milestones totalling up to $4.8bn in the future.
The therapeutic, which targets PD-1 and VEGF, is currently involved in several clinical trials throughout China in patients with non-small cell lung cancer (NSCLC), metastatic colorectal cancer and gynaecological tumours.
Thus far, SSGJ-707 has displayed a promising safety profile, as well as initial efficacy in a patient population.
Pfizer now has the right to commercialise SSGJ-707 anywhere but China, though this is negotiable as part of the deal, meaning that Pfizer could own full global rights to the therapeutic further down the line.
This transaction is expected to close in Q3 of 2025, subject to fulfillment of customary closing conditions — including receipt of required regulatory approvals, as well as approval from 3SBio's shareholders.
Upon closing, Pfizer will also make a $100m equity investment in 3SBio, bolstering its current development capacity significantly.
The company will likely deal with drug substance production for SSGJ-707 at its Sanford, North Carolina site, while manufacturing its drug product in McPherson, Kansas.