Immunomedics, Seattle Genetics ink $2B deal for antibody-drug conjugate

Immunomedics (NSDQ:IMMU) said it landed an exclusive global licensing agreement with Seattle Genetics (NSDQ:SGEN) for Immunomedics’ antibody-drug conjugate, IMMU-132, for the treatment of solid tumors. The deal could potentially bring in $2 billion plus royalties for Immunomedics.

According to the deal, Seattle Genetics is responsible for developing, funding, manufacturing and commercializing IMMU-132. The Washington-based company will also initiate a phase III trial of the antibody-drug conjugate in patients with metastatic triple-negative breast cancer and submit a initial Biologics License Application to the FDA.

Get the full story at our sister site, Drug Delivery Business News.

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