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February 10, 2017

Seat­tle Ge­net­ics has become the new flag car­rier for the solid tumor drug IMMU-132 of   Im­munomedics. In order to claim global rights on the drug, Seat­tle Ge­net­ics is pay­ing $300 mil­lion, and also com­mit­ting up to $1.7 bil­lion more in mile­stones. The biotech 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.

NJ-based Im­munomedics CEO Cyn­thia L. Sul­li­van said: “In just over three years, we have brought IMMU-132 through clin­i­cal de­vel­op­ments in mul­ti­ple in­di­ca­tions, and have ad­vanced the TNBC in­di­ca­tion to a po­ten­tial ac­cel­er­ated ap­proval and launch by late 2017 or early 2018, which could make IMMU-132 avail­able to pa­tients deal­ing with a highly ma­lig­nant form of breast can­cer,”

IMMU-132 (sac­i­tuzumab govite­can) fits squarely in the com­fort zone Seat­tle Ge­net­ics. It is an armed an­ti­body that con­tains SN-38, the ac­tive metabo­lite of irinote­can, de­signed for pre­cise de­liv­ery to avoid off-tar­get tox­i­c­ity.

The deal — with a $250 mil­lion in an up­front and an ad­di­tional $50 mil­lion for ad­di­tional ex-US rights — falls just days after Sul­li­van and her crew declared the lat­est up­date on the drug and its plans to seek an ac­cel­er­ated ap­proval.

 

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