Seattle Genetics grabs Immunomedics’ tumor drug in $2B deal, shooting for a quick OK
You can count Seattle Genetics as the new flag carrier for Immunomedics’ solid tumor drug IMMU-132. The biotech is paying $300 million to claim global rights on the drug, committing up to $1.7 billion more in milestones.
That milestone money should get rolling soon. Seattle Genetics will now take the lead on a Phase III study for metastatic triple negative breast cancer. And once the BLA is filed, it’s obligated to pay over the first of its milestone money as Seattle Genetics looks to vault to an approval as early as late 2017.
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