Seagen, Zai Lab Ink Regional Strategic Licensing Agreement For Cervical Cancer Treatment

Seagen Inc SGEN and Zai Lab Limited ZLAB have announced an exclusive collaboration and license agreement for the development and commercialization of TIVDAK (tisotumab vedotin-tftv) in mainland China, Hong Kong, Macau, and Taiwan.
TIVDAK is the first and only ADC approved in the U.S. for treating adult patients with recurrent or metastatic cervical cancer with disease progression on or after chemotherapy.
The collaboration supports regional patient enrollment for InnovaTV 301, a global Phase 3 trial of TIVDAK in patients with recurrent or metastatic cervical cancer.
Under the terms of the agreement, Seagen will receive an upfront payment of $30 million, development, regulatory, and commercial milestone payments, and tiered royalties on net sales of TIVDAK in the Zai Lab territory.
Based on the existing TIVDAK co-development and co-commercialization collaboration between Seagen and Genmab A/S GMAB, all upfront, milestone payments and royalties will be shared 50/50 with Genmab.
Price Action: SGEN shares are up 1.30% at $137.03, and ZLAB shares are up 4.86% at $39.25 on the last check Tuesday.