SSGJ-707 has shown initial efficacy and safety data in a promising class of cancer medicines, states Pfizer.

3SBio plans to initiate the first Phase 3 study in China in 2025.

Upfront payment of USD 1.25 billion

Under the terms of the agreement, 3SBio and its subsidiaries Shenyang Sunshine Pharmaceutical and 3S Guojian Pharmaceutical will grant Pfizer an exclusive global license to develop, manufacture and commercialize SSGJ-707 worldwide, excluding China. The agreement also provides Pfizer the option of commercialization rights in China.

3SBio will receive an upfront payment of USD 1.25 billion and is eligible to receive milestone payments associated with certain development, regulatory and commercial milestones up to USD 4.8 billion as well as tiered double-digit royalties on sales of SSGJ-707, if approved.

Pfizer plans to manufacture drug substance for SSGJ-707 in Sanford, North Carolina, and drug product in McPherson, Kansas.

The transaction is expected to close in the third quarter subject to fulfillment of customary closing conditions, including receipt of required regulatory approvals and 3SBio shareholder approval.

Upon close, Pfizer will make a USD 100 million equity investment in 3SBio subject to an agreed upon securities subscription agreement between the parties. Pfizer plans to manufacture drug substance for SSGJ-707 in Sanford, North Carolina, and drug product in McPherson, Kansas.