Twice As Nice: Seattle Genetics, Merck & Co. Partner On Two Cancer Drugs
Companies Will Jointly Develop A Novel ADC And Commercialize Tukysa
Merck & Co. will pay Seattle Genetics $725m up front in cash under the two deals and make a $1bn equity investment in the company, providing financial flexibility to broadly fund the pipeline.
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Results of the HER2CLIMB-02 study supported Tukysa combinations with antibody-drug conjugates. However, treatment discontinuations drew caution.
A buyout of Seagen would boost Merck & Co’s goal of becoming the dominant player in oncology by 2025, but the deal is said to be far from done.
The US firm gets development and co-commercial rights to MORAb-202 for $650m up front. BMS joins AstraZeneca, Merck & Co. and Gilead in recent ADC deal-making.