Pfizer Inc. has announced an exclusive global licensing agreement with 3SBio, Inc., a prominent Chinese biopharmaceutical company, for the development, manufacturing, and commercialization of SSGJ-707. This bispecific antibody targets PD-1 and VEGF and is currently involved in clinical trials in China for various cancers, including non-small cell lung cancer, metastatic colorectal cancer, and gynecological tumors. Under the agreement, Pfizer will gain an exclusive global license, excluding China, and will make a $100 million equity investment in 3SBio upon closing, subject to customary conditions and approvals. Additionally, 3SBio will receive an upfront payment of $1.25 billion and may receive up to $4.8 billion in milestone payments. Tiered double-digit royalties on sales of SSGJ-707, if approved, are also part of the agreement. Pfizer plans to produce the drug substance in Sanford, North Carolina, and the drug product in McPherson, Kansas.
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