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