AN INTERVENTIONAL PHASE 3, OPEN LABEL, RANDOMIZED STUDY TO EVALUATE EFFICACY AND SAFETY OF PF-08634404 IN COMBINATION WITH CHEMOTHERAPY VERSUS PEMBROLIZUMAB IN COMBINATION WITH CHEMOTHERAPY IN ADULT PARTICIPANTS WITH ADVANCED OR RECURRENT MISMATCH REPAIR PROFICIENT ENDOMETRIAL CANCER

This study is being conducted to assess whether the study medicine PF 08634404, given in combination with chemotherapy, improves outcomes compared with another medicine called pembrolizumab plus chemotherapy. Chemotherapy is a type of cancer treatment that uses medicines to destroy cancer cells or stop them from growing.
Our bodies have a built-in DNA "spell-checker," called the mismatch repair (MMR) system, that fixes genetic mistakes. In most endometrial cancers, this system works normally, and these cancers are called MMR-proficient (pMMR). However, pMMR tumors are harder for the immune system to recognize and attack. When endometrial cancer has spread beyond the uterus or comes back after previous treatment, it is called advanced or recurrent endometrial cancer. This study is for adults with mismatch repair-pMMR advanced or recurrent endometrial cancer.
Participants must meet key criteria, including:
* Women who are 18 years or older, and not pregnant at the time of joining the study
* pMMR endometrial cancer only
* Measurable Stage III disease, Stage IV disease (with or without measurable disease) per FIGO staging, a system doctors use to describe how far cancer has spread in the body, or recurrent (with or without measurable disease) endometrial cancer
* Has not received chemotherapy except for chemotherapy given after the main surgery and more than 6 months before relapse
* Be in good enough health to receive study treatment. Approximately 600 adult women will be enrolled. Each participant will be randomly assigned (like a flip of the coin) to one of two treatment groups, with about half in each group. The study is open, meaning both the doctors and participants know what treatment is being given. Participants will receive their assigned treatment through intravenous infusions (medicine is given directly into a vein). The treatment will be given in cycles.
Experimental Group will receive new study medicine called PF-08634404 plus chemotherapy. It will be followed by PF 08634404 alone for up to 2 years (35 cycles).
Control Group will receive an approved medicine called pembrolizumab plus chemotherapy. It will be followed by pembrolizumab alone for up to 2 years (20 cycles).
The study will include regular visits for:
* Participants will have regular visits to the study site for treatment, health checks, and tests.
* After stopping treatment, participants will come for a final visit within a month to check their health and review any reactions.
* Follow-up will continue every 12 weeks by phone or in person or by reviewing health records. This helps check health and any new treatments.
* Tests will be done every 9 weeks during the first 104 weeks to see how the cancer is responding. After that, tests will be done every 12 weeks.

开始日期2026-10-09

申办/合作机构

Pfizer Inc.

[+1]

NCT07476287

/ Recruiting临床2期

A PHASE 2 INTERVENTIONAL STUDY OF PF-08634404 IN COMBINATION WITH CHEMOTHERAPY IN PARTICIPANTS WITH PREVIOUSLY UNTREATED TRANSFORMED SMALL CELL LUNG CANCER

This study is being done to learn more about a new medicine called PF-08634404. The study team wants to understand how well PF-08634404 works when given alone or with chemotherapy . Chemotherapy is a type of cancer treatment that uses medicines to destroy cancer cells or stop them from growing. The study is for adults with Transformed Small Cell Lung Cancer (T-SCLC ). T SCLC is a rare lung cancer that happens when one type of lung cancer changes into a more aggressive type after treatment stops working.
To join the study, participants must meet the following conditions:
* Are aged 18 years or older
* Diagnosed with T-SCLC and have not received treatment for this type of lung cancer (a single cycle of chemotherapy may be permitted)
* Prior diagnosis of epidermal growth factor receptor (EGFR)-mutated non-small cell lung cancer treated with tyrosine kinase inhibitors (TKIs)
* Have healthy organs based on medical tests and are in good physical condition
After joining the study, adults will be given chemotherapy in addition to the study medicine. After this combination treatment is finished, the study medicine will be continued alone. Adults will receive the treatment through IV infusions (medicine given directly into a vein). All treatments will be done at clinical study sites, where a trained medical team will monitor adults during and after each visit.

开始日期2026-07-02

申办/合作机构

Pfizer Inc.

NCT07489066

/ Recruiting临床2期

AN INTERVENTIONAL, OPEN-LABEL, PHASE 2 STUDY TO INVESTIGATE THE SAFETY AND EFFICACY OF PF-08634404 MONOTHERAPY OR IN COMBINATION IN ADULT PARTICIPANTS WITH EARLY-STAGE RESECTABLE OR LOCALLY ADVANCED UNRESECTABLE NON-SMALL CELL LUNG CANCER

This study is being done to learn more about a new medicine called PF-08634404. The study team wants to understand how well it works when given alone or with chemotherapy. The study is for adults with early stage or locally advanced non-small cell lung cancer (NSCLC) that may or may not be removable with surgery.
The study is seeking participants who:
* Are aged 18 years or older
* Have either:
* Early-stage or locally advanced (Stage II or IIIA/B) NSCLC and are a candidate for neoadjuvant therapy, followed by surgical removal of the tumor. Neoadjuvant therapy is a treatment given as a first step to shrink the tumor before surgery.
* Early-stage or locally advanced (Stage II or IIIA/B) NSCLC and are a candidate for adjuvant therapy and did not achieve a pathological complete response (pCR) from approved treatment that was administered before surgery. Adjuvant therapy is an additional cancer treatment given after the primary treatment to lower the risk that the cancer will come back. pCR is defined as absence of viable tumor in all surgically removed samples.
* Locally advanced (Stage III) NSCLC that may not be removable with surgery, was treated with concurrent chemoradiotherapy (cCRT), and is a candidate for additional treatment, otherwise known as consolidation therapy. cCRT is chemotherapy and radiation given simultaneously.
* Be in good physical condition and have healthy organs based on medical tests.
* Do not have known actionable changes in DNA
The study has 3 parts and each participant will be assigned to one part by their doctor based on their disease diagnosis:
* Part A will test PF-08634404 given with chemotherapy in the neoadjuvant setting, followed by surgery.
* Part B will test PF-08634404 alone in adults who already were treated with neoadjuvant chemo-immunotherapy, underwent surgery, and did not achieve pCR per tumor tissue pathology analysis. Neoadjuvant chemo-immunotherapy refers to the combination of chemotherapy with immunotherapy per local standard-of-care, given before surgical removal of the tumor.
* Part C will test PF-08634404 alone in adults with unresectable disease who received cCRT and did not have progressive disease. Progressive disease refers to a condition that grows, spreads, or worsens.
All treatments will be done at clinical study sites, where a trained medical team will monitor adults during and after each visit.

开始日期2026-06-30

申办/合作机构

Pfizer Inc.

100 项与 SSGJ-707 相关的临床结果

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100 项与 SSGJ-707 相关的转化医学

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100 项与 SSGJ-707 相关的专利（医药）

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项与 SSGJ-707 相关的新闻（医药）

2026-07-29

·FierceBiotech

Merck posts—then pulls—trial plan for PD-1xVEGF and TROP2 ADC combination

After keeping tight-lipped for nearly two years, Merck & Co. briefly dropped the first concrete hint as to where it intends to take its PD-1xVEGF bispecific antibody—before quietly scrubbing the evidence. A brief, now-deleted clinical trial listing on Merck’s website revealed that the New Jersey pharma plans to test the bispecific, coded MK-2010, alongside its TROP2-directed antibody-drug conjugate, sac-TMT. The phase 2 trial, coded MK-2010-003, was marked as “Study in start-up” on Merck’s website, with St. Gallen and Bellinzona in Switzerland listed as study centers. The open-label study would test the combo in patients with advanced solid tumors. Following a request for comment from Fierce Biotech on Wednesday morning, Merck has apparently removed the entry and deleted other listings for MK-2010, including a separate phase 2 monotherapy trial. The company didn’t reply to Fierce’s inquiry by publication time. China-based life sciences data aggregator PharmCube was among the first to report on the trial entry. The secrecy underscores a highly competitive race within the PD-(L)1xVEGF bispecific class, which also includes Summit Therapeutics and Akeso’s frontrunner ivonescimab , Bristol Myers Squibb and BioNTech’s pumitamig, and Pfizer and 3SBio’s PF-08634404 (SSGJ-707). Merck has kept its PD-1xVEGF strategy close to its chest since acquiring the asset from China’s LaNova Medicines (now part of Sino Biopharmaceutical) in 2024, citing a fiercely competitive environment . As bispecifics threaten to unseat Keytruda as the new immuno-oncology backbone, industry watchers and rivals alike have been closely tracking every move by the Keytruda maker while trying to decipher every comment the company makes. During an investor event on the sidelines of the 2026 American Society of Clinical Oncology annual meeting in June, Merck’s head of oncology global clinical development, Marjorie Green, M.D., pointed to the company’s experience combining Keytruda with VEGF inhibitors. She touted a “portfolio of novel agents that offer combination opportunities oriented towards combinations of the future rather than adding on to today’s current standard, including ADCs like sac-TMT.” Hints of Merck’s development plan for MK-2010 dropped as questions also began to swirl around potential competition—rather than synergy—between PD-1xVEGF drugs and TROP2 ADCs in the lucrative non-small cell lung cancer indication. As Akeso has reported ivonescimab head-to-head wins against PD-1 inhibitors in first-line NSCLC, Merck’s partner, Kelun-Biotech, has also delivered strong phase 3 results for sac-TMT in the same setting. Standing only on the verge of phase 2, Merck’s measured approach to MK-2010 reflects a cautious stance that contrasts sharply with the expansive phase 3 programs underway at BioNTech/BMS and Pfizer, as well as Merck’s own 17-trial roster for sac-TMT. For pumitamig , BioNTech and BMS have laid out the first wave of nine global pivotal trials across multiple tumor types, with lung cancer and breast cancer leading the way. In potential combinations of PD-1xVEGF and TROP2 ADC, specifically, Merck also appears to be behind. China’s Minghui Pharmaceutical is already about a year into phase 2 development , pairing its PD-1xVEGF candidate MHB039A with a TROP2 ADC coded MHB036C for advanced breast cancer and other solid tumors. Despite what appears to be a conservative approach so far, Leerink Partners analyst Daina Graybosch, Ph.D., has argued that Merck could rapidly pivot to more aggressive development of MK-2010 if it so chooses. “We believe Merck’s ‘wait-and-then-move’ strategy for MK-2010 will prove successful, as they have a strong portfolio to leapfrog the competition via ADC combinations,” Graybosch and colleagues wrote in an April note after Merck unveiled the first clinical data for MK-2010 in NSCLC at the American Association for Cancer Research annual meeting. “Should Merck proceed with MK-2010 more aggressively, we believe they are likely to leverage their vast ADC program (including […] sac-TMT) to combine with MK-2010,” the team said at the time. Meanwhile, the oncology field is eagerly waiting for phase 3 readouts from AstraZeneca and Daiichi Sankyo’s Avanzar trial for a cocktail of their TROP2 ADC, Datroway, with AZ’s PD-L1 inhibitor Imfinzi and chemotherapy in first-line NSCLC.

2026-07-29

·当涨不变

三生国健(688336)深度分析：自免龙头管线收获期，42元到底贵不贵？

一、公司画像：自免赛道"隐形冠军" 三生国健（688336.SH）是中国抗体药物领域的先行者，2002年成立，2020年登陆科创板。公司聚焦自身免疫性疾病赛道，是国内唯一覆盖TNF-α、IL-17A、IL-4Rα、IL-1β、IL-5、BDCA2、TL1A全系列核心靶点的抗体药企。目前已形成"上市一代、申报一代、临床一代"的完整产品梯队：阶段产品靶点/适应症已上市益赛普、赛普汀、健尼哌、益赛拓® TNF-α/HER2/CD25/IL-17A NDA阶段 613(IL-1β)、611(IL-4Rα) 痛风性关节炎/特应性皮炎 III期临床 608、611、613多适应症强直/COPD/青少年AD等早期管线 626/627/双抗/三抗/口服多肽 SLE/UC/多靶点创新分子公司2025年获工信部授予国家级专精特新"小巨人"称号，总资产89.48亿元，资产负债率仅4.11%，财务极为稳健。二、2025年报：一次性的"狂欢"，主业真相是什么？ 2025年公司交出了一份"炸裂"的成绩单：营收41.99亿元（+251.8%），归母净利润28.99亿元（+311.5%）。但如果你只看这个数字就冲进去，那就掉坑里了。这份业绩的核心驱动是一次性BD授权收入。2025年5月，公司将PD-1/VEGF双抗SSGJ-707的全球权益授权给辉瑞（Pfizer），交易总额超60亿美元，2025年内收到约28亿元首付款。剔除这笔一次性收入，公司2025年主业收入约14亿元，这才是真实的经营水平。指标 2025年实际剔除BD后估算营业收入 41.99亿 ≈14亿归母净利润 28.99亿 ≈2-3亿经营现金流 30.4亿 ≈2-3亿基本每股收益 4.70元 ≈0.35-0.50元 ⚠️ 关键认知：2025年PE(TTM)看起来只有13倍，但这建立在一次性BD收入的基础上。2026年利润将断崖式回落，表观PE会跳升至50-60倍。千万不要被"低PE"迷惑。三、2026年一季报：主业增长强劲，验证"后BD时代"的成色 2026年Q1，在不依赖BD一次性收入的情况下，公司交出了扎实的成绩单：指标 2026Q1 同比营业收入 4.31亿 +38.61% 归母净利润 1.78亿 +73.00% 扣非归母净利润 1.49亿 +59.29% 毛利率 80.71% +4.82pct 净利率 40.94% +8.76pct 研发投入 1.01亿(占营收23.47%) -8.73pct(因营收增长稀释) 营收增长的核心驱动力来自两方面： ① 益赛拓®（IL-17A，安沐奇塔单抗）2026年2月获批，3月开始全国铺货，Q1贡献少量收入（处于导入期），Q2起将逐季加速放量。 ② 存量产品益赛普、赛普汀的稳定增长，以及部分技术授权/服务收入的确认。 ⚠️ 注意：Q1经营现金流为-1.55亿元（同比-257.8%），系集中缴纳各项税费所致，属季节性因素，并非经营恶化。四、管线价值深度拆解：2026-2028年的真实增长引擎如果说2025年是"BD狂欢年"，那2026-2028年就是"产品兑现年"。以下逐个拆解核心管线：🔬 益赛拓®（IL-17A）：已上市，最大的近期增量维度评估市场空间中国银屑病患者约650万，中重度约200万，IL-17A市场规模超80亿元且仍在快速增长竞争优势国产唯一8周/次长效IL-17A（进口为4周/次）；ADA发生率仅0.7%；定价1520元/支，不到进口一半 2026E销售公司指引3-5亿元（导入年），上半年温和，下半年加速峰值得意 2027年若医保落地+强直适应症获批，有望冲击8-12亿元，长期峰值15亿+ 渠道优势复用益赛普4900+医院成熟渠道，国药/上药/华润全面配送🔬 611（IL-4Rα）：NDA已受理，对标"药王"Dupixent IL-4Rα是自免领域的"黄金靶点"，赛诺菲Dupixent 2025年全球销售额超130亿美元。三生国健的611针对特应性皮炎已于2026年2月递交NDA，同时布局COPD、青少年AD等差异化适应症。预计峰值销售可达8-12亿元。🔬 613（IL-1β）：国产首家申报痛风适应症中国痛风患者超过1500万，急性痛风性关节炎目前缺乏特效生物制剂。613是国产首个申报该适应症的IL-1β单抗，2025年6月NDA获受理。预计峰值5-8亿元。🔬 辉瑞合作（SSGJ-707）：持续的里程碑红利辉瑞正在积极推进SSGJ-707的全球多中心临床试验。根据协议，后续开发、注册、商业化里程碑合计可达数十亿美元，此外还有销售分成。2026-2028年间可能陆续有里程碑付款到账，构成利润的"意外之喜"。五、同行业比较：站在创新药的坐标系里看三生国健指标恒瑞医药信达生物三生国健 2025年营收 316亿 130亿 42亿(含BD) 核心赛道肿瘤+自免肿瘤+代谢自免（纯）上市创新药数量 17个 15个 4个（含益赛拓） NDA/III期管线丰富较丰富 2个NDA+多个III期毛利率 ~84% ~83% ~81% PE(2026E) ~45x ~55x ~60x 总市值 ~3400亿 ~1200亿 378亿资产负债率 ~10% ~35% 4.1%（最低）核心差异： ① 三生国健是A股最"纯"的自免创新药标的，不同于恒瑞的多元化、信达的肿瘤+代谢双轮驱动。自免赛道具有患者基数大、用药周期长、竞争格局相对好的特点。 ② 公司体量虽小（378亿市值），但资产负债表极为干净，4.11%负债率在创新药行业几乎是最低水平，抗风险能力强。 ③ 管线集中在未来2-3年密集兑现，2026-2028年净利润CAGR预计约23%（2026E 6.2亿→2028E 9.4亿），成长性可观。六、估值重估：42元的股价，究竟值多少钱？这是本文最核心的部分。我采用五种方法交叉验证，力求得出一个负责任的结论。方法一：2026年预测PE法参数数值 2026E归母净利润（8家机构均值） 6.21亿元总股本（10转4.5后） ≈8.96亿股 2026E EPS ≈1.01元合理PE区间（成长型创新药企） 35-45倍合理股价区间 35.4 - 45.5元方法二：2027年远期PE法参数数值 2027E归母净利润（机构均值） 7.39亿元 2027E EPS ≈1.20元合理PE（乐观假设：新产品已放量） 30-40倍合理股价区间 36.0 - 48.0元方法三：PEG估值法参数数值 2026E→2028E 净利润CAGR ≈22.7%（6.21→9.41亿）合理PEG倍数（创新药管线型公司） 1.5-2.0倍对应2026E合理PE 22.7×1.5 ~ 22.7×2.0 = 34-45倍合理股价区间 34.3 - 45.5元方法四：分部估值法（SOTP）——最严谨的方法这是创新药公司最常用的估值方法，将每块业务单独估值后加总。业务板块估值（亿元）估值逻辑存量产品(益赛普+赛普汀+健尼哌) 65 年利润~2.5亿，25xPE（成熟产品） IL-17A(益赛拓)已上市 50-65 峰值15亿×30%净利×15xPE，风险调整折现 IL-4Rα(611)NDA阶段 30-40 峰值10亿，55%成功率调整后折现 IL-1β(613)NDA阶段 18-25 峰值6亿，55%成功率调整后折现 IL-5+早期管线 30-40 平台价值+风险调整管线辉瑞里程碑+分成 30-40 后续里程碑折现，不含销售分成期权净现金 ≈50 现金扣除所有负债（负债率仅4.11%） SOTP合计 273-325 对应每股价值 30.5-36.3元 ÷8.96亿股五法交叉验证——综合结论估值方法合理股价区间权重 2026E PE法（35-45x） 35.4 - 45.5元 25% 2027E PE法（30-40x） 36.0 - 48.0元 20% PEG法（PEG 1.5-2.0x） 34.3 - 45.5元 15% SOTP分部估值法 30.5 - 36.3元 25% 净现金+核心业务+管线溢价 35.0 - 40.0元 15% 加权综合合理价值 ≈35 - 42元 —— 中枢合理价值 ≈38元 —— 注：机构平均目标价79-89元，但需注意这些目标价多在股价50-60元时给出，且使用了更乐观的管线峰值假设和更低的折现率。本文采用偏保守假设以留足安全边际。七、当前价格 vs 合理价值：差了多少？项目数值当前股价（2026/7/28收盘） 42.15元合理价值中枢 ≈38元当前价格 vs 合理价值溢价约 +10.9% 合理买入区间（含20%安全边际） ≤ 30.4元合理持有区间 30.4 - 38元乐观情景价值（牛市/Pipeline超预期） 48-55元悲观情景价值（竞争加剧/管线失败） 25-30元结论：当前42.15元的股价，相较于我们测算的38元合理中枢，溢价约11%。处于合理价值区间的上沿，缺乏安全边际。如果考虑到机构乐观预期（79-89元目标价），似乎还有空间——但这些目标价建立在对管线峰值销售和成功概率的更乐观假设之上。八、投资建议：当前时点，买还是等？ 📊 综合评级：观望偏谨慎（等待更好买点）当前价格42.15元处于合理价值区间上沿，短期不具备足够安全边际。但公司基本面优质，中长期成长逻辑清晰，建议等待回调至35元以下分批建仓。看多理由（中长期逻辑）： ✅ 自免赛道"纯标的"，管线覆盖最核心靶点，未来2-3年进入集中收获期 ✅ 益赛拓差异化优势显著（8周长效+低价+成熟渠道），2027年医保后有望爆发 ✅ 财务极为健康：负债率4.11%，净现金约50亿元，抗风险能力极强 ✅ 辉瑞合作背书，后续里程碑+销售分成构成"免费期权" ✅ 2026Q1主业增长强劲（营收+38.6%，利润+73%），新产品放量轨迹清晰风险因素（不可忽视）： ❌ 2025年BD高基数效应，2026年表观利润大幅下滑（-79%），可能引发市场负面情绪 ❌ 益赛拓销售放量不及预期（2026年3-5亿指引能否兑现需逐季验证） ❌ IL-17A赛道2027年后将面临国产竞品扎堆上市（多家药企处于III期） ❌ 集采扩围风险：益赛普等存量产品可能面临更大价格压力 ❌ 当前动态PE 53倍，2026E PE约60倍，在行业中偏高 ❌ 7月股价从高点64元回落到42元，技术面偏弱，短期可能继续寻底操作建议框架：价格区间操作建议仓位参考 50元以上显著高估，建议减仓 0-30% 42-50元估值偏高，持有不加仓 30-50% 38-42元合理偏高，观望为主 50-70% 35-38元合理偏低，可开始分批建仓 70-90% 30-35元显著低估，积极买入 90-100% 30元以下极度低估，重仓买入满仓九、未来需要重点跟踪的节点如果你打算投资三生国健，以下时间节点决定了逻辑能否兑现：时间关键事件影响 2026年8月半年报披露验证益赛拓Q2销售爬坡速度 2026年H2 IL-1β(613)审批结果第二个自免新药能否年内获批 2026年底医保谈判益赛拓能否进入全国医保（影响2027年放量斜率） 2027年 IL-4Rα(611)审批结果对标Dupixent的大品种能否获批 2027年益赛拓强直适应症进一步扩大适用人群持续辉瑞里程碑到账不定期的利润"彩蛋" 免责声明：本文仅为个人研究分析，不构成任何投资建议。文中所有数据来源于公司公告、东方财富、同花顺、机构研报等公开信息，虽经交叉验证但不保证完全准确。估值模型基于一系列假设（折现率、成功率、峰值销售等），实际结果可能与预测存在重大偏差。股票投资有风险，过去的表现不代表未来，请投资者自行判断并承担风险。作者不持有三生国健仓位，未来72小时内无交易计划。数据来源：三生国健2025年年报/2026年一季报、东方财富数据中心、同花顺iFinD、中邮证券/中泰证券/长城国瑞/国金证券/渤海证券/华西证券研报、Investing.com一致预期。 —— END ——

2026-07-29

·中金在线

三生制药创新药亮相ASCO 全球临床数据获国际权威认可

2026年美国临床肿瘤学会(ASCO)年会期间，三生制药自主研发的PD-1/VEGF双特异性抗体SSGJ-707以快速口头报告形式登上国际学术舞台，标志着三生制药集团创新研发能力再获全球顶级学术会议的高度认可。亮相ASCO不仅验证了该产品的临床价值，更展现了中国创新药参与全球竞争的强劲势头。在本次ASCO肺癌专场上，湖南省肿瘤医院邬麟教授代表研究团队公布了SSGJ-707单药一线治疗晚期非小细胞肺癌(NSCLC)的二期临床数据。该研究入组83例驱动基因阴性且PD-L1 TPS不低于1%的局部晚期或转移性NSCLC患者，结果显示经确认的客观缓解率(ORR)达到67.6%，中位无进展生存期(mPFS)为12.4个月，在中位随访15.2个月时中位总生存期(OS)仍尚未达到，展现了令人振奋的疗效信号。安全性方面，仅一例患者因治疗相关不良事件停药，整体安全性特征可控。除肺癌外，SSGJ-707联合化疗一线治疗晚期或复发子宫内膜癌的研究同样入选ASCO壁报展示。在错配修复功能正常(pMMR)患者亚组中，10mg/kg剂量组的确认ORR高达90.9%，疾病控制率达到100%。鉴于pMMR型子宫内膜癌患者对传统免疫治疗应答有限，该数据为这一临床需求未满足的患者群体带来了全新的治疗希望，也进一步印证了SSGJ-707在多瘤种中的广谱抗肿瘤潜力。三生制药董事长娄竞博士在ASCO接受采访时表示，SSGJ-707从中国实验室走向国际顶级学术讲台，得益于公司数十年深耕抗体工程领域的扎实积累。此前，三生制药与辉瑞就SSGJ-707达成了总额超60亿美元的全球独家授权合作，首付款高达15亿美元，创下了中国创新药出海首付款纪录。目前辉瑞已在全球范围启动9项国际多中心临床试验，计划年内推进5项全球三期注册研究，覆盖结直肠癌、非小细胞肺癌、子宫内膜癌等多个高发癌种。从技术平台搭建到临床数据验证，再到全球商业化网络对接，三生制药集团在SSGJ-707这一核心资产上走通了中国创新药出海的全链条路径。首例全球三期患者已成功入组，标志着该项目正式进入全球注册研究阶段，也为中国生物制药企业的国际化探索树立了标杆案例。值得一提的是，SSGJ-707的临床数据不仅在学术层面获得认可，更直接推动了辉瑞的全球开发节奏。目前一线治疗转移性结直肠癌的III期研究已率先完成首例患者入组，这是全球首个由跨国制药巨头主导开展的PD-1/VEGF双抗领域III期临床试验。娄竞博士对此表示，辉瑞以如此力度推进合作资产的全球开发，在业内并不多见，这充分说明了对三生制药研发体系和质量标准的高度信任。他强调，创新是生物医药企业的核心生命力，公司将始终坚持以临床价值为导向的研发理念。从ASCO的国际聚光灯到辉瑞的全球推进，三生制药集团正在用扎实的临床数据和稳健的全球布局，向世界展示中国创新药的竞争力与价值。未来公司将继续深耕肿瘤免疫领域，为全球患者带来更多优质治疗选择。

ASCO会议临床3期引进/卖出临床结果临床1期

100 项与 SSGJ-707 相关的药物交易

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适应症	最高研发状态	国家/地区	公司	日期
微卫星稳定型子宫内膜癌	临床3期	-	Pfizer Inc.	2026-10-09
食管腺癌	临床3期	美国	Pfizer Inc.	2026-05-14
食管腺癌	临床3期	中国	Pfizer Inc.	2026-05-14
食管腺癌	临床3期	日本	Pfizer Inc.	2026-05-14
食管腺癌	临床3期	以色列	Pfizer Inc.	2026-05-14
食管腺癌	临床3期	意大利	Pfizer Inc.	2026-05-14
食管腺癌	临床3期	中国台湾	Pfizer Inc.	2026-05-14
胃食管交界处癌	临床3期	美国	Pfizer Inc.	2026-05-14
胃食管交界处癌	临床3期	中国	Pfizer Inc.	2026-05-14
胃食管交界处癌	临床3期	日本	Pfizer Inc.	2026-05-14

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研究	分期	人群特征	评价人数	分组	结果	评价	发布日期


NCT07222800 (Symbiotic-GI-03, ASCO2026)	临床3期	转移性结直肠癌一线	800	PF-08634404 + mFOLFOX6	壓襯構鬱製願顧築製範(餘鑰築壓艱範鹽範憲憲) = 衊鹹願蓋網餘獵壓夢積觸糧蓋繭選糧築繭範顧 (築鏇衊襯醖願觸蓋淵選 ) 更多	积极	2026-05-29
				Bevacizumab + mFOLFOX6	壓襯構鬱製願顧築製範(餘鑰築壓艱範鹽範憲憲) = 選廠醖衊鬱蓋獵鑰鹽鬱觸糧蓋繭選糧築繭範顧 (築鏇衊襯醖願觸蓋淵選 )
NCT06361927 (ASCO2026)	临床2期	晚期非小细胞肺癌一线	83	SSGJ-707 10 mg/kg	繭鬱壓衊餘選構夢願簾(積鹽鬱鹽遞夢醖艱艱遞) = 憲憲蓋鏇壓憲膚醖壓獵衊簾簾醖襯襯鬱網簾願 (觸網齋遞顧窪積糧糧衊, 49.5 ~ 82.6) 更多	积极	2026-05-29
				SSGJ-707 10 mg/kg (Squamous)	繭鬱壓衊餘選構夢願簾(積鹽鬱鹽遞夢醖艱艱遞) = 顧選簾鬱顧壓窪衊衊繭衊簾簾醖襯襯鬱網簾願 (觸網齋遞顧窪積糧糧衊, 42.8 ~ 94.5) 更多
NCT06522828 (SSGJ-707-ST-II-02, ASCO2026)	临床2期	子宫内膜癌一线	32	SSGJ-707 5 mg/kg Q3W + chemo	積衊顧襯鑰鏇觸鏇廠壓(衊醖繭選鹹鏇築壓鹽網) = 醖窪積選衊蓋網淵鬱壓遞築製鹽衊顧觸鹽艱簾 (鏇衊夢醖獵鏇顧襯獵壓 ) 更多	积极	2026-05-29
				SSGJ-707 10 mg/kg Q3W + chemo	積衊顧襯鑰鏇觸鏇廠壓(衊醖繭選鹹鏇築壓鹽網) = 艱積襯衊製醖艱遞製齋遞築製鹽衊顧觸鹽艱簾 (鏇衊夢醖獵鏇顧襯獵壓 ) 更多
NCT07226999 (Symbiotic-Lung-04, ESMO_ELCC2026)	临床2/3期	广泛期小细胞肺癌一线	540	PF-08634404 plus carboplatin and etoposide followed by PF-08634404 monotherapy	餘壓憲齋積製醖餘遞觸(鹹繭壓構醖築壓艱鬱簾) = 製構艱獵窪膚鑰襯醖鹽獵願糧蓋築艱築廠壓夢 (獵觸襯淵夢齋選築願襯 )	积极	2026-03-25
				anti-PD-L1 plus carboplatin and etoposide followed by anti-PD-L1 monotherapy	餘壓憲齋積製醖餘遞觸(鹹繭壓構醖築壓艱鬱簾) = 壓鏇壓積憲襯遞膚簾鏇獵願糧蓋築艱築廠壓夢 (獵觸襯淵夢齋選築願襯 )
NCT07227298 (Symbiotic-Lung-20, ESMO_ELCC2026)	临床1/2期	晚期恶性实体瘤一线	42	PF-08634404 + sigvotatug vedotin	衊膚醖鹹餘齋繭積夢鏇(夢獵鹽憲簾齋顧壓衊窪) = 壓衊鹽鏇淵淵築鏇夢鹽鏇範簾積築選淵餘觸選 (淵範糧構淵選廠鏇糧壓 ) 更多	积极	2026-03-25
				PF-08634404 + PDL1V	遞範選獵蓋憲觸壓觸餘(蓋網範鬱網膚範蓋鬱鏇) = 獵艱壓餘選齋鏇選膚製構憲艱廠鏇觸願獵繭鹹 (製醖醖壓簾範構繭選憲 ) 更多
NCT07222566 (Symbiotic-Lung-01, ESMO_ELCC2026)	临床3期	局部晚期非小细胞肺癌一线	1,410	PF-08634404 plus carboplatin and investigator’s choice of paclitaxel or nab-paclitaxel	網鬱製壓構繭鏇獵鏇顧(壓願觸憲鏇蓋鹹鹹憲餘) = 獵夢艱襯構鹽觸膚襯願鬱憲廠鬱壓顧糧醖繭範 (構夢糧鏇選醖襯衊顧簾, 36.2 ~ NR)	积极	2026-03-25
				PF-08634404 plus carboplatin and pemetrexed	網鬱製壓構繭鏇獵鏇顧(壓願觸憲鏇蓋鹹鹹憲餘) = 艱鹹觸襯鹽蓋築鏇壓夢鬱憲廠鬱壓顧糧醖繭範 (構夢糧鏇選醖襯衊顧簾, 36.3 ~ NR)
NCT06493760 (ESMO 12025 \| ESMO 22025) 人工标引	临床2期	转移性结直肠癌一线 Proficient DNA Mismatch Repair (pMMR) \| Microsatellite Stable (MSS)	68	SSGJ-707 + Chemotherapy (10mg/kg Q3W + XELOX)	齋廠觸遞窪廠憲繭衊遞(製觸獵憲簾餘淵簾餘膚) = 壓淵衊鏇觸夢鑰齋夢範遞壓壓獵衊遞蓋積觸鹽 (鏇築衊衊膚餘鑰鏇築繭 ) 更多	积极	2025-10-13
				SSGJ-707 + Chemotherapy (10mg/kg Q2W + mFOLFOX6)	齋廠觸遞窪廠憲繭衊遞(製觸獵憲簾餘淵簾餘膚) = 壓積廠餘壓艱糧廠範築遞壓壓獵衊遞蓋積觸鹽 (鏇築衊衊膚餘鑰鏇築繭 ) 更多
NCT06361927 (SSGJ-707-NSCLC-II-01, ASCO2025)	临床2期	非小细胞肺癌	83	SSGJ-707 5mg/kg Q3W	製製餘膚淵壓衊積範鹹(艱衊憲糧顧獵夢製鹹鬱) = 6% of pts experienced TRAE leading to discontinuation 網築壓鏇獵齋壓選夢夢 (憲艱繭鹽鹽構簾壓積構 ) 更多	积极	2025-05-30
				SSGJ-707 10mg/kg Q3W
NCT06361927 (Corporate Publications) 人工标引	临床2期	PD-L1阳性非小细胞肺癌 PD-L1 High Expression (TPS >= 1%)	83	SSGJ-707 10 mg/kg Q3W	網願壓膚網膚鑰膚簾窪(網鹽蓋蓋蓋願獵獵憲遞) = 鏇網蓋艱顧廠選醖網鏇衊獵艱襯網簾選衊廠鏇 (襯膚壓淵範糧網積顧築 ) 更多	积极	2025-01-16
NCT06493760 (Corporate Publications) 人工标引	临床2期	结直肠癌一线 \| 末线 \| 三线	68	SSGJ-707	糧構蓋繭鑰願糧夢廠願(構蓋艱齋醖鹽觸選簾觸) = 鹹構窪窪醖餘構醖膚壓網鑰製遞觸壓築選蓋範 (壓遞願廠衊簾鑰糧築網 ) 更多	积极	2025-01-16
				SSGJ-707 + chemo	糧構蓋繭鑰願糧夢廠願(構蓋艱齋醖鹽觸選簾觸) = 襯憲製簾鑰艱糧醖艱築網鑰製遞觸壓築選蓋範 (壓遞願廠衊簾鑰糧築網 ) 更多