Three Lives Country Health Dual Antibiotic New Drug Authorized Pfizer Sci-Tech Innovation Board Pharma Company Once Again Breaks the Record for Down Payment of Innovative Domestic Drugs Going Abroad.

On May 20th, the innovative drug company Sanjiu Guojian of China's Sci-Tech Innovation Board announced that it has been granted the exclusive rights for global development, production, and commercialization of Pfizer's PD-1/VEGF bispecific antibody SSGJ-707 by the company and its affiliates Sanjiu Pharmaceutical and Shenyang Sanjiu. Pfizer retains the right to obtain commercialization license products in mainland China through additional payments. According to the agreement, Pfizer will pay a non-refundable and non-deductible upfront payment of $1.25 billion, milestone payments of up to $4.8 billion for development, regulatory approval, and sales, and a double-digit percentage of sales revenues calculated based on the authorized regions. This "1.25 billion US dollar upfront payment" once again refreshes the record for upfront payment amount for Chinese innovative drugs going global, and also marks the recognition of the research and development strength of the Sci-Tech Innovation Board's innovative drug companies by top international pharmaceutical companies, achieving another milestone for domestic pharmaceutical companies to enter the global market.