NEW YORK CITY (dpa-AFX) - Pfizer Inc. (PFE) Thursday said it has completed the licensing agreement with 3SBio, Inc. for exclusive rights to develop and sell 3SBio's SSGJ-707.
As per the deal, 3SBio will receive $1.25 billion, and Pfizer will also make a $100 million equity investment in 3SBio. Additionally, Pfizer gets the option to extend the license to include exclusive development and commercialization rights to SSGJ-707 in China. In return, Pfizer will pay up to $150 million in option payments.
SSGJ-707, developed using 3SBio's proprietary CLF2 platform, is currently in various clinical studies in China for non-small cell lung cancer (NSCLC), metastatic colorectal cancer, and gynecological tumors. Positive interim results from the Phase 2 study of SSGJ-707 in patients with advanced NSCLC were recently reported.
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