Sanofi, Seagen Collaborate For Antibody-Drug Conjugates Against Cancer Targets

Sanofi SA SNY and Seagen Inc SGEN have announced an exclusive collaboration agreement to design, develop, and commercialize antibody-drug conjugates (ADCs) for up to three cancer targets.
The collaboration will utilize Sanofi's proprietary monoclonal antibody (mAb) technology and Seagen's proprietary ADC technology.
ADCs are antibodies engineered to deliver potent anti-cancer drugs to tumor cells expressing a specific protein, and Sanofi currently has one ADC in development.
Under the terms of the collaboration, Seagen and Sanofi will co-fund global development activities and share equally in any future profits.
In addition, Sanofi will make an undisclosed payment to Seagen for each of the three targets as they are selected.
The first target under the collaboration has already been designated.
Price Action: SGEN stock closed 0.54% higher at $137.60 on Tuesday. SNY shares are up 0.14% at $51.90 during the premarket session on the last check Wednesday.