Seagen, Sanofi In Deal To Develop And Commercialize Multiple Novel Antibody-Drug Conjugates

(RTTNews) - Biotechnology company Seagen Inc. (SGEN) and French drug major Sanofi (SNY) announced Wednesday an exclusive collaboration agreement to design, develop, and commercialize antibody-drug conjugates or ADCs for up to three cancer targets.

The companies noted that the collaboration will utilize Sanofi's proprietary monoclonal antibody or mAb technology and Seagen's proprietary ADC technology.

Under the deal terms, Seagen and Sanofi will co-fund global development activities and share equally in any future profits. In addition, Sanofi will make an undisclosed payment to Seagen for each of the three targets as they are selected. The first target under the collaboration has already been designated.

ADCs are antibodies engineered to deliver potent anti-cancer drugs to tumor cells expressing a specific protein and Sanofi currently has one ADC in development.

Clay Siegall, PhDPresident and Chief Executive Officer, Seagen, said, "Jointly developing novel ADCs by combining antibodies from Sanofi with Seagen's proprietary ADC technology, aligns with our strategic priorities to expand the global potential of our pipeline with new first- or best-in-class programs."