RTTNews | Aug 9, 2021 06:53AM EDT

06:52 Monday, August 9, 2021 (RTTNews.com) - Biotechnology company Seagen Inc. (SGEN) and Chinese biopharmaceutical company RemeGen Co., Ltd. on Monday said they have entered into a licensing agreement for RemeGen's disitamab vedotin.

As per the deal, Seagen will make $200 million upfront payment with a potential of up to $2.4 billion on reaching certain regulatory and commercialization targets.

Seagen will have the global rights for development and commercialization of disitamab vedotin, while RemeGen will retain rights for Asia, excluding Japan and Singapore and also entitled to royalty based on net sales of disitamab vedotin in Seagen's territory.

As monotherapy disitamab vedotin has demonstrated antitumor activity in clinical trials in several solid tumor types, including urothelial, gastric and breast cancer, as well as across a spectrum of HER2 expression levels, Seagen said.

Disitamab vedotin, a novel antibody-drug conjugate (ADC) which is in multiple late-stage studies across several solid tumor types, had received FDA Breakthrough Therapy designation in 2020 for use in second-line treatment of patients with HER2-expressing, locally advanced or metastatic urothelial cancer who have previously received platinum-containing chemotherapy.

"This collaboration leverages Seagen's world-class expertise and knowledge of ADC development, manufacturing and commercialization to maximize the potential of disitamab vedotin. It also complements our existing franchises and our deep and diverse portfolio of innovative anti-cancer therapies for patients in need," said Clay Siegall, President and CEO, Seagen. "

Read the original article on RTTNews ( https://www.rttnews.com/3217253/seagen-and-remegen-in-licensing-deal-for-disitamab-vedotin-with-potential-value-up-to-2-4-bln.aspx)

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