US-based drugmaker Pfizer has signed an exclusive global licensing agreement with 3SBio for the development, manufacturing, and commercialisation of SSGJ-707, excluding China.
SSGJ-707 is a bispecific antibody that targets PD-1 and VEGF, currently studied in China, for non-small cell lung cancer, metastatic colorectal cancer, and gynaecological tumours.
Initial data suggest promising efficacy and safety for this class of cancer medicines.
Through the agreement, Pfizer obtains the exclusive global rights to develop, manufacture, and commercialise SSGJ-707 worldwide, except in China.
In addition, Pfizer has the option for commercialisation rights in China.
3SBio will receive an upfront payment of $1.25bn and is eligible for milestone payments up to $4.8bn, along with tiered double-digit royalties on future sales.
The transaction is anticipated to conclude in the third quarter, pending customary closing conditions, regulatory approvals, and 3SBio shareholder approval.
Upon closing of the acquisition, Pfizer will make a $100m equity investment in 3SBio, as per an agreed securities subscription agreement.
Pfizer plans to manufacture the drug substance for SSGJ-707 in Sanford, North Carolina, and the drug product in McPherson, Kansas.
The strategic partnership move aims to strengthen Pfizer’s oncology portfolio, which includes small molecules, antibody-drug conjugates, and bispecific antibodies.
Last month, Pfizer teamed up with Guardant Health to support the development and marketing of Pfizer’s oncology portfolio using the Guardant Infinity liquid biopsy platform.
Under the multi-year collaboration, Guardant’s portfolio of liquid biopsy tests will be used in Pfizer’s global clinical studies.
The partners will evaluate circulating tumour DNA (ctDNA) levels as a surrogate endpoint to monitor therapy response and related blood-based epigenomic analyses.
Also, the collaboration will provide Pfizer with access to Guardant’s liquid biopsy tests in China for their global clinical trials that include China cohorts.
Earlier this year, biopharmaceutical company Summit Therapeutics entered a clinical trial collaboration with Pfizer to evaluate its investigational bispecific antibody ivonescimab.
