BeiGene (BGNE -0.7%) inks an agreement with Seattle Genetics (SGEN +0.1%) aimed at developing a preclinical cancer candidate based on the latter’s antibody-based technology.
Under the terms of the deal, SGEN will retain rights in the Americas, Europe and Japan while BGNE will have rights in Asia, except Japan, and the rest of the world. SGEN will lead global development while BGNE will fund and manage the portion of global studies in its territories and will be responsible for clinical development and regulatory filings in its territories.
SGEN will receive an undisclosed upfront payment, up to $160M in milestones and tiered royalties on net sales from BGNE.
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