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BRIEF-Seattle Genetics in licensing deal with Immunomedics
February 10, 2017 / 12:27 PM / 8 months ago

BRIEF-Seattle Genetics in licensing deal with Immunomedics

Feb 10 (Reuters) - Seattle Genetics Inc

* Seattle Genetics announces global license agreement with immunomedics for sacituzumab govitecan (immu-132), a promising late-stage adc for solid tumors

* Seattle Genetics Inc - planned bla for triple negative breast cancer indication; other solid tumors being explored in clinic

* Seattle Genetics Inc - seattle genetics to lead development, manufacturing and commercialization of sacituzumab govitecan globally

* Seattle Genetics inc says seattle genetics is purchasing approximately $15 million of common stock, representing a 2.8 percent stake in immunomedics

* Seattle Genetics -upon closing of transactions contemplated by development, license agreement, immunomedics would receive an upfront payment of $250 million

* Seattle Genetics Inc - granted right to purchase an additional 8,655,804 shares of common stock at a price of $4.90 per share

* Seattle Genetics is purchasing approximately $15 million of common stock, representing a 2.8 percent stake in immunomedics

* Seattle Genetics - would pay development, regulatory,sales-dependent milestone payments across multiple indications of up to total maximum of about $1.7 billion

* Seattle Genetics Inc - 2017 guidance provided on february 9, does not take into account impact of transactions with immunomedics

* Seattle Genetics - immunomedics has right to continue discussions with small number of parties who expressed interest in licensing sacituzumab govitecan Source text for Eikon: Further company coverage:

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