Pfizer, 3SBio Finalize $1.25B Global Cancer Drug Licensing Deal

Pfizer and Chinese biotech firm 3SBio have finalized a landmark global licensing agreement granting Pfizer exclusive rights to develop, manufacture, and commercialize the cancer drug SSGJ-707 outside China, with an option for expansion into the mainland. Pfizer has committed $1.25 billion upfront, a $100 million equity investment in 3SBio, and up to $150 million for development rights within China. SSGJ-707 is a bispecific antibody targeting PD-1 and VEGF, currently in clinical trials for non-small cell lung cancer, metastatic colorectal cancer, and gynecological tumors, with positive interim Phase II results in advanced NSCLC. Pfizer plans to manufacture the drug substance in North Carolina and the drug product in Kansas, with clinical trials expanding globally and focusing on Phase III studies. The deal reflects the growing influence of Chinese biotech firms in drug research and increased international collaborations. 3SBio intends to allocate approximately 80% of the deal proceeds to global R&D efforts, with the remainder used for corporate purposes.