Pfizer Strikes Landmark Deal with China’s 3SBio for Cancer Drug
(MENAFN) Pfizer, one of the largest American pharmaceutical companies, has struck a landmark deal with Chinese biotech firm 3SBio, marking the biggest transaction in China's biotechnology sector to date. The agreement, finalized on Friday, paves the way for Pfizer to secure exclusive rights for the development, manufacturing, and commercialization of 3SBio’s promising drug, SSGJ-707.
According to a Pfizer statement, the drug is a bispecific antibody targeting PD-1 and VEGF, and was developed using 3SBio’s proprietary CLF2 platform.
As part of the deal, the Shenyang-based company will receive a substantial $1.25 billion in upfront payment, along with an additional $100 million equity investment from Pfizer. Furthermore, Pfizer has committed to paying 3SBio up to $150 million for exclusive rights to the mainland Chinese market.
Currently, SSGJ-707 is undergoing several clinical trials across China, targeting non-small cell lung cancer (NSCLC), metastatic colorectal cancer, and various gynecological cancers. The drug has already shown promise, with recent positive interim Phase 2 results in advanced NSCLC patients. These findings were presented at the prestigious American Society of Clinical Oncology (ASCO) Annual Meeting, highlighting the drug's potential in treating advanced forms of cancer.
This move signals Pfizer's aggressive push into the Chinese market, particularly as the country’s biotech sector continues to grow rapidly.
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