Seagen Bets On China's ADC In $2.6B Cancer Deal

by Vandana Singh, Benzinga Editor

August 9, 2021 12:02 PM | 1 min read | Make a Comment

Seagen Inc SGEN and RemeGen Co Ltd have entered into an exclusive worldwide licensing agreement to develop and commercialize disitamab vedotin.
For $200 million upfront, Seagen is getting ex-Asia rights to Chinese biotech RemeGen's HER2-targeted antibody-drug conjugate (ADC) disitamab vedotin.
RemeGen is entitled to up to $2.4 billion in potential milestone payments if everything plays out across multiple indications. The deal also covers rights in Japan and Singapore.
The news comes just two months after disitamab vedotin won a conditional nod from China's National Medical Products Administration to treat stomach cancer following at least two prior systemic therapies.
Price Action: SGEN shares are down 1.25% at $158.97 during the market session on the last check Monday.

Posted In: Biotech News Health Care Contracts General Briefs

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