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Merck Signs Up to $4.5B Oncology Deal with Seattle Genetics

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Merck Signs Up to $4.5B Oncology Deal with Seattle Genetics

Merck Signs Up to $4.5B Oncology Deal with Seattle Genetics

Shots:

  • Seattle Genetics to receive $600M up front- $1B as equity investment- 5M shares of Seattle Genetics common stock at a price of $200/ share- ~$2.6B as milestones including $850M development milestones and $1.75B as commercial milestones. The companies will equally share costs and profits on the global development of ladiratuzumab vedotin and other LIV-1-targeting ADCs
  • The companies will co-commercialize the therapy in the US and EU. Seattle Genetics will be responsible for approval in the US & Canada and will record sales in the US- Canada- and EU while Merck will be responsible for approval in EU & outside the US & Canada- and will record sales in countries outside the US- EU- and Canada
  • Additionally- companies enter exclusive license and co-development agreement to accelerate the global reach of Tukysa for HER2+ cancers in regions outside the US- EU & Canada. As per the agreement- Seattle Genetics to receive $125M as upfront and is eligible to receive up to $65M as progress-dependent milestones- $85M as research and development milestones- and royalties on sales of Tukysa in Merck’s territory

­ Ref: PRNewswire | Image: Merck 

Click here to­ read the full press release 

Tuba

Tuba was Senior Editor at PharmaShots. She was curious, creative, and passionate about recent updates and innovations in the life sciences industry. She covered Biopharma, MedTech, and Digital health segments. Tuba also had an experience in digital and social media marketing and ran the campaigns independently. She can be contacted at connect@pharmashots.com.

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