Pfizer would license experimental cancer drug SSGJ-707 from 
3SBio Inc (三生制药) — which was founded by PLA Major General Lou Dan (娄丹), paying $1.25 billion upfront and up to another $4.8 billion if developmental milestones are met. Pfizer also plans to make a $100 million equity investment in 3SBio after the transaction closes, which is expected to happen in the third quarter.
Shares in Hong Kong-listed 3SBio surged 35% in Hong Kong trade on Tue May 20, valuing the Chinese biopharmaceutical company at nearly $6 billion.
The drug candidate, SSGJ-707, is being evaluated for non-small cell lung cancer, metastatic colorectal cancer and gynaecological tumors. It is undergoing multiple clinical trials in China and 3SBio plans to initiate the first Phase III trial in China this year.
3SBio founder Lou Dan joined the PLA at the age of 15 at the beginning of the Korean War in 1950. He became a medic and furthered his training after the war.
Lou Dan rose to Major General years later and became Director of the Institute of Microbiology and Immunology at Shenhou Military Medical Research Institute (沈后军事医学研究所).
In 1993, Lou Dan (right pic) founded Shenyang Sunshine Pharmaceuticals Co Ltd, the government-backed precursor of 3SBio, and served as the chairman and president as well as chief engineer of the company.
Lou Dan’s son Lou Jing (娄竞), current chairman and CEO of 3SBio, obtained a Bachelor of Medicine degree in clinical medicine from Shanghai Second Military Medical University in July 1985. He conducted post-doctoral research at 
NIH after obtaining a PhD in molecular and cell biology from Fordham University in Feb 1994.
reuters.com/business/healt
forbes.com/sites/janeho/2
3SBio Inc (三生制药) — which was founded by PLA Major General Lou Dan (娄丹), paying $1.25 billion upfront and up to another $4.8 billion if developmental milestones are met. Pfizer also plans to make a $100 million equity investment in 3SBio after the transaction closes, which is expected to happen in the third quarter.
Shares in Hong Kong-listed 3SBio surged 35% in Hong Kong trade on Tue May 20, valuing the Chinese biopharmaceutical company at nearly $6 billion.
The drug candidate, SSGJ-707, is being evaluated for non-small cell lung cancer, metastatic colorectal cancer and gynaecological tumors. It is undergoing multiple clinical trials in China and 3SBio plans to initiate the first Phase III trial in China this year.
3SBio founder Lou Dan joined the PLA at the age of 15 at the beginning of the Korean War in 1950. He became a medic and furthered his training after the war.
Lou Dan rose to Major General years later and became Director of the Institute of Microbiology and Immunology at Shenhou Military Medical Research Institute (沈后军事医学研究所).
In 1993, Lou Dan (right pic) founded Shenyang Sunshine Pharmaceuticals Co Ltd, the government-backed precursor of 3SBio, and served as the chairman and president as well as chief engineer of the company.
Lou Dan’s son Lou Jing (娄竞), current chairman and CEO of 3SBio, obtained a Bachelor of Medicine degree in clinical medicine from Shanghai Second Military Medical University in July 1985. He conducted post-doctoral research at NIH after obtaining a PhD in molecular and cell biology from Fordham University in Feb 1994.
reuters.com/business/healt
forbes.com/sites/janeho/2
