In biggest licensing deal yet for a China asset, Pfizer takes rights to 3SBio’s bispecific
Latest agreement in the PD-(L)1 x VEGF space has pharma paying $1.25B up front for candidate headed to Phase III in China, first U.S. trial
In the latest and largest deal between a China-based biotech and a larger biopharma for a bispecific with broad potential in oncology, Pfizer is paying 3SBio $1.25 billion up front for most global rights to a clinical therapy that targets PD-1 and VEGF to treat a range of solid tumors.
The upfront payment is a record for licensing an asset from China, surpassing the $800 million paid by Bristol Myers Squibb Co. (NYSE:BMY) to Systimmune Inc. in late 2023 for a different bispecific, according to BioCentury’s BCIQ database. It’s also tied for the fourth-largest upfront payment in any single-asset deal anywhere. The other two with the same size upfront were the agreements between Johnson & Johnson (NYSE:JNJ) and Numab Therapeutics AG (see Table)...