Pfizer Strikes Deal With China’s 3SBio For Experimental Cancer Drug License

Pfizer announced on Tuesday that it entered into an exclusive licensing agreement with China-based 3SBio for an experimental cancer drug.

Pfizer’s shares were up nearly 1% in pre-market trading.

The agreement is for developing, manufacturing, and commercializing SSGJ-707, a bispecific antibody that targets PD-1 (programmed death cell protein 1) and VEGF (vascular endothelial growth factor).

3SBio’s experimental cancer drug is currently undergoing clinical trials in China for non-small cell lung cancer, metastatic colorectal cancer, and gynecological tumors.

The company said initial trial data have demonstrated SSGJ-707’s efficacy and safety, adding that 3SBio is aiming to kickstart a Phase 3 study in China this year.

Pfizer said that its agreement with 3SBio gives it an exclusive license to manufacture and commercialize the drug worldwide, excluding China.

The U.S. pharmaceutical giant said it plans to manufacture the drug substance for SSGJ-707 in its Sanford, North Carolina, facility, and the drug product in McPherson, Kansas.

Under the terms of the agreement, Pfizer will pay $1.25 billion upfront to 3SBio and make further milestone payments to the company up to $4.8 billion. In addition, 3SBio will be eligible to receive double-digit royalties if the drug is approved.

Pfizer expects the 3SBio deal to close in the third quarter of 2025, subject to regulatory approval and a nod from 3SBio’s shareholders.

When the deal is approved, Pfizer will pick up an equity stake in 3SBio worth $100 million.

Pfizer’s stock is down over 13% year-to-date and 19% over the past 12 months.

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