SSGJ-707

3SBio shared data from its phase 2 trials in January.\n Pfizer has joined the PD-1xVEGF bispecific gold rush. The Big Pharma is paying 3SBio $1.25 billion upfront for ex-China rights to a clinical candidate, establishing itself as a challenger to BioNTech, Merck & Co. and Summit Therapeutics in a scorching-hot area of immuno-oncology.Interest in PD-1/L1xVEGF bispecifics has been high since Summit and Akeso’s ivonescimab beat Merck’s megablockbuster Keytruda in a head-to-head trial. Since then, Merck has paid $588 million to join the race and BioNTech has handed over $800 million to secure full rights to a candidate it previously picked up through an ex-China deal.Pfizer made a splashy entrance late Monday, revealing it is paying $1.25 billion upfront and committing up to $4.8 billion in milestones for ex-China rights to 3SBio’s SSGJ-707. Pfizer is investing $100 million in 3SBio and will pay tiered double-digit royalties on sales of SSGJ-707, if approved.The deal gives Pfizer rights to a bispecific that is set to enter phase 3 in China, 3SBio’s home market, this year. 3SBio began four phase 2 trials of SSGJ-707 last year to assess the bispecific in colorectal, ovarian and non-small cell lung cancers (NSCLC). All the sites used in the studies are in China, according to the listings on ClinicalTrials.gov. The first phase 3 trial will enroll first-line, PD-L1 positive NSCLC patients. 3SBio shared (PDF) data from the phase 2 trials in January. The biotech reported a 70.8% response rate in first-line, PD-L1-positive NSCLC patients. Combined with chemotherapy, SSGJ-707 achieved response rates of up to 81.3% in another population of first-line NSCLC patients. 3SBio reported a 33.3% response rate in third-line colorectal cancer patients, a population in which it said rivals were yet to show promise. Pfizer signaled its interest in PD-1/L1xVEGF bispecifics in February. That month, Pfizer inked a deal to test its antibody-drug conjugates with Summit and Akeso’s ivonescimab. Days later, Megan O\'Meara, M.D., head of early clinical development in oncology at Pfizer, called (PDF) PD-1xVEGF a “very interesting” combination of targets and said the company was following the space “very closely.” Securing ex-China rights to SSGJ-707 slots Pfizer in behind Summit and BioNTech in the race for the U.S. market. Summit is leading the way, with results from its first phase 3 study due mid-2025, and BioNTech started a phase 2/3 trial of its contender in January. LaNova Medicines, the originator of Merck’s asset, began a phase 1/2 trial in Australia and China in October. 3SBio said it has an approved IND for SSGJ-707.Pfizer’s big bet on SSGJ-707 represents a show of faith in a mechanism that suffered a setback last month when Akeso revealed ivonescimab failed to significantly reduce the risk of death compared to Keytruda at an interim NSCLC analysis. The news crashed Summit’s share price. Whether PD-1/L1xVEGF bispecifics can beat Keytruda on overall survival in Western trials is the big outstanding question facing the field. 

NEW YORK, NY, USA I May 19, 2025 I Pfizer Inc. (NYSE: PFE) today announced it has entered into an exclusive global, ex-China, licensing agreement with 3SBio, Inc. (01530.HK), a leading Chinese biopharmaceutical company, for the development, manufacturing and commercialization of SSGJ-707, a bispecific antibody targeting PD-1 and VEGF, currently undergoing several clinical trials in China for non-small cell lung cancer, metastatic colorectal cancer, and gynecological tumors. SSGJ-707 has shown initial efficacy and safety data in a promising class of cancer medicines. 3SBio plans to initiate the first Phase 3 study in China in 2025. Under the terms of the agreement, 3SBio and its subsidiaries Shenyang Sunshine Pharmaceutical Co., Ltd. and 3S Guojian Pharmaceutical (Shanghai) Co., Ltd. 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 $1.25 billion and is eligible to receive milestone payments associated with certain development, regulatory and commercial milestones up to $4.8 billion as well as tiered double-digit royalties on sales of SSGJ-707, if approved. 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 $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. About Pfizer Oncology At Pfizer Oncology, we are at the forefront of a new era in cancer care. Our industry-leading portfolio and extensive pipeline includes three core mechanisms of action to attack cancer from multiple angles, including small molecules, antibody-drug conjugates (ADCs), and bispecific antibodies, including other immune-oncology biologics. We are focused on delivering transformative therapies in some of the world’s most common cancers, including breast cancer, genitourinary cancer, hematology-oncology, and thoracic cancers, which includes lung cancer. Driven by science, we are committed to accelerating breakthroughs to help people with cancer live better and longer lives. About Pfizer: Breakthroughs That Change Patients’ Lives At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products, including innovative medicines and vaccines. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as one of the world’s premier innovative biopharmaceutical companies, we collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For 175 years, we have worked to make a difference for all who rely on us. We routinely post information that may be important to investors on our website at www.Pfizer.com . In addition, to learn more, please visit us on www.Pfizer.com and follow us on X at @Pfizer and @Pfizer News , LinkedIn , YouTube and like us on Facebook at Facebook.com/Pfizer . SOURCE: Pfizer