LAVA Therapeutics Skyrockets After Cancer Agreement With Seagen

LAVA Therapeutics Skyrockets After Cancer Agreement With Seagen
  • Seagen Inc SGEN has announced an exclusive license agreement to develop, manufacture and commercialize LAVA Therapeutics N.V.'s LVTX LAVA-1223. 
  • LAVA-1223 is a preclinical asset that utilizes LAVA's proprietary Gammabody technology to target epidermal growth factor receptor (EGFR)-expressing solid tumors.
  • Under the terms of the agreement, Seagen will pay $50 million upfront, up to approximately $650 million in potential milestone payments.
  • Also Read: LAVA Therapeutics Highlights Encouraging Clinical Updates on Lead Cancer Program.
  • The agreement also allows Seagen to exclusively negotiate rights to apply LAVA's proprietary Gammabody platform on up to two additional tumor targets.
  • LAVA-1223 employs a targeted approach designed to amplify natural tumor recognition by directing gamma delta T cells to the EGFR+ tumor to kill target cells and trigger immune activation while minimizing the impact on normal antigen-expressing tissue. 
  • Activating the adaptive immune system with this approach can provide durable immune responses and possibly enhance patient survival.
  • Price Action: LVTX shares are up 119.2% at $5.26 during the premarket session on the last check Monday.

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