- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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