Pfizer Inc. (NYSE:PFE) announced Monday it has secured exclusive global rights, excluding China, to 3SBio Inc.‘s bispecific antibody SSGJ-707 in a deal potentially worth up to $6 billion.

The agreement includes a $1.25 billion upfront payment to the Chinese biopharmaceutical company, with additional milestone payments of up to $4.8 billion. Pfizer will also make a $100 million equity investment in 3SBio upon closing, expected in the third quarter of 2025.

SSGJ-707, which targets PD-1 and VEGF pathways simultaneously, is currently in clinical trials for non-small cell lung cancer, metastatic colorectal cancer, and gynecological tumors in China. 3SBio plans to initiate Phase 3 trials there in 2025.

The transaction gives Pfizer manufacturing and commercialization rights globally except China, with an option for Chinese market rights. If approved, Pfizer will produce the drug substance in North Carolina and the drug product in Kansas, while paying 3SBio tiered double-digit royalties on sales.

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