Overview

• Pfizer has signed a licensing deal with 3SBio for SSGJ-707, a bispecific antibody in trials for multiple cancers, valued at up to $6 billion.
• The agreement includes a $1.25 billion upfront payment and up to $4.8 billion in future milestone payments tied to development and sales targets.
• Pfizer will invest $100 million in 3SBio equity upon the deal's expected closure in Q3 2025, pending regulatory approval.
• SSGJ-707, targeting PD-1 and VEGF pathways, is undergoing clinical trials in China for cancers such as non-small cell lung and colorectal cancer, with Phase 3 trials planned for 2025.
• Pfizer plans to manufacture the drug substance in North Carolina and the finished product in Kansas, with tiered double-digit royalties paid to 3SBio upon approval.