Core Viewpoint - The company has entered into an exclusive licensing agreement with Pfizer for the development, production, and commercialization of its breakthrough PD-1/VEGF bispecific antibody, SSGJ-707, outside of mainland China, while retaining rights for mainland China [1][2] Group 1: Licensing Agreement Details - The agreement includes an upfront payment of $1.25 billion and potential total payments of up to $4.8 billion, which are non-refundable and non-offsettable [1] - The company will receive a double-digit percentage royalty on net sales of the product in the licensed regions [1] Group 2: Product Development and Clinical Trials - SSGJ-707 is based on the proprietary CLF2 platform and is currently undergoing multiple clinical studies in China, including a Phase III trial for first-line treatment of PD-L1 positive locally advanced or metastatic non-small cell lung cancer (NSCLC) [2] - The product has received breakthrough therapy designation in China and is also involved in several Phase II studies for various cancers [2] Group 3: Share Subscription Agreement - Pfizer will subscribe to $100 million worth of ordinary shares based on the 30-day volume-weighted average price, with terms to be negotiated in a formal agreement following the licensing agreement [2]
三生制药(01530.HK)与辉瑞就PD-1/VEGF双特异性抗体(SSGJ-707)订立许可协议，首付款12.5亿美元