Ipsen boards ADC train in $900M pact with Sutro

Ipsen has joined the glob­al deal­mak­ing spree for an­ti­body-drug con­ju­gates as the French bio­phar­ma picks up its first as­set in on­col­o­gy’s hottest pock­et of R&D.

The drug­mak­er said Tues­day it will pay up to $900 mil­lion, in­clud­ing about $90 mil­lion in the near term, to snag the ex­clu­sive rights to Sutro Bio­phar­ma’s ROR1-tar­get­ing ADC for sol­id tu­mors.

Sutro priced a $75 mil­lion stock of­fer­ing short­ly af­ter the Bay Area biotech an­nounced the Ipsen deal.

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