Seattle-based Seagen has scooped up the development and commercialization rights to an antibody-drug conjugate developed by China’s RemeGen in a deal valued near $2.6 billion.
The first ADC developed in China, RemeGen’s disitamab vedotin targets the HER2 cancer field which includes several solid tumor types including breast, gastric and urothelial cancers. The drug, which has already won a conditional approval in China, combines Seagen’s drug-linker tech with RemeGen’s novel HER2 antibody. If fully approved, the drug will meet several blockbuster competitors in the HER2 space such as Roche’s Kadcyla.
Seagen, a cancer antibody specialist, said the deal will leverage its ADC expertise and help both companies widen their global reach.
Under the agreement, Seagen will pay $200 million upfront and another potential $2.4 billion in development and regulatory milestones.
