Seat­tle Ge­net­ics throws in the tow­el on $2B Im­munomedics deal, CEO and CSO axed in set­tle­ment

The ac­tivist in­vest­ment group ven­Bio has brought down a high pro­file, $2 bil­lion col­lab­o­ra­tion deal — with $300 mil­lion in up front cash — be­tween Seat­tle Ge­net­ics and Im­munomedics. And the peace agree­ment they signed is tied to the res­ig­na­tions of the CEO and CSO at Im­munomedics, who led the coun­ter­at­tack against ven­Bio, which now has to­tal con­trol of the biotech.

A few months ago the two com­pa­nies tied up in a deal that gave Seat­tle Ge­net­ics glob­al rights to Im­munomedics’ IM­MU-132, putting them in charge of a late-stage study of the drug for metasta­t­ic triple neg­a­tive breast can­cer while look­ing for an ac­cel­er­at­ed ap­proval.

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