Pfizer (PFE) announced the completion of a global, ex-China, licensing agreement with 3SBio, granting Pfizer exclusive rights for the development, manufacturing and commercialization of 3SBio’s SSGJ-707, a bispecific antibody targeting PD-1 and VEGF developed using 3SBio’s proprietary CLF2 platform. This agreement solidifies Pfizer at the forefront of innovative cancer research and further enhances the company’s robust oncology pipeline. Under the terms of the agreement, 3SBio will receive a payment of $1.25B. Pfizer will also make a $100M equity investment in 3SBio. Additionally, the agreement provides Pfizer the option to extend the license to include exclusive development and commercialization rights to SSGJ-707 in China. In exchange for the exclusive rights in China, Pfizer will pay 3SBio up to $150M in option payments.
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