Seagen inks deal with Dutch biotech to develop and commercialize drug candidate

Seagen has inked a deal to develop, manufacture and commercialize an experimental immuno-oncology agent from Lava Therapeutics, a biotech firm based mostly in Utrecht, Netherlands. Seagen pays Lava $50 million upfront to completely license Lava-1223, a “bispecific T cell engager” designed to direct sure T cells to tumors through the goal EGFR on most cancers cells. Seagen can even pay Lava as much as $650 million in future milestone funds and has the choice to completely negotiate rights to use Lava’s platform to 2 different tumor targets. The deal, introduced Monday, comes a month after talks over a possible acquisition of Bothell, Wash.-based Seagen by Merck reportedly stalled over the value.

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