Date: 2017-08-29
Type of information: Exercise of an option agreement
Compound: tisotumab vedotin (HuMax-TF-ADC)
Company: Seattle Genetics (USA - WA) Genmab (Denmark)
Therapeutic area: Cancer - Oncology
Type agreement: licensing - development
Action mechanism:
- antibody drug conjugate. Tisotumab vedotin is an antibody-drug conjugate (ADC) composed of a human antibody that binds to tissue factor conjugated to Seattle Genetics' clinically validated cytotoxic drug MMAE. Tissue factor is a protein involved in tumor signaling and angiogenesis. Based on its high expression on many solid tumors and its rapid internalization, this protein was selected as a target for an ADC approach. Tisotumab vedotin is in Phase I/II clinical development for solid tumors in two studies (GEN701 and GEN702). Genmab has a license and collaboration agreement for tisotumab vedotin with Seattle Genetics under which Seattle Genetics has the right to exercise a co-development option at the end of Phase I clinical studies.
Disease: solid tumors
Details:
- • On August 29, 2017, Genmab announced that Seattle Genetics has exercised its option to co-develop tisotumab vedotin. The companies originally entered into a commercial license and collaboration agreement in October 2011 under which Seattle Genetics had the right to exercise a co-development option for tisotumab vedotin at the end of Phase I clinical development. Going forward, Genmab and Seattle Genetics will co-develop and share all future costs and profits for tisotumab vedotin on a 50:50 basis. Preliminary data from the ongoing Phase I/II study of tisotumab vedotin in solid tumors (GEN701) were announced in June 2017, demonstrating antitumor activity and manageable safety in recurrent cervical cancer patients.
- In October 2011, Genmab and Seattle Genetics entered into a commercial license and collaboration agreement for ADCs. Under the agreement, Genmab was granted rights to utilize Seattle Genetics ADC technology with its HuMax®-TF antibody. Seattle Genetics was granted rights to exercise a co-development and co-commercialization option at the end of Phase I clinical development for tisotumab vedotin. With today’s news Seattle Genetics exercises its option to co-develop tisotumab vedotin and the companies will share all future costs and profits for the product on a 50:50 basis. Seattle Genetics will be responsible for commercialization activities in the US, Canada, and Mexico, while Genmab will be responsible for commercialization activities in all other territories. Each party has the option to co-promote by employing up to 40 percent of the sales effort in the other party’s territories.
Financial terms:
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Is general: Yes
