TMTPOST -- Pfizer has entered into a licensing and equity agreement valued at up to $6 billion with Chinese biopharma company 3SBio Inc. for its investigational cancer treatment, SSGJ-707. The deal includes a $1.25 billion upfront payment and up to $4.8 billion in milestone-based payments. In addition, Pfizer will acquire a $100 million equity stake in 3SBio upon the expected closing of the deal in the third quarter of 2025. SSGJ-707 is undergoing clinical trials in China for several cancers, including non-small cell lung cancer, metastatic colorectal cancer, and gynecological tumors. A Phase III trial is expected to begin later this year. Under the agreement, Pfizer gains global rights—excluding China—for development, manufacturing, and commercialization, with an option to extend those rights within China.