BRIEF—Gracell closes cell therapy deal with Seagen

Shanghai, China-based cell/gene therapy company Gracell Biotechnologies has entered an unusual, non-exclusive global deal with US biotech Seagen to conduct pre-clinical research on Seagen’s cell therapy products and acquire non-exclusive rights to five of Seagen’s cell therapies.

The deal was apparently struck just before Seagen announced it would be acquired by Pfizer for $43 billion.

Neither Gracell nor Seagen have issued a press release explaining the agreement and no financial terms were disclosed.

The Chinese start-up, founded in 2017, is developing at least four CAR-Ts and its lead program, targeting BCMA and CD19, is expected to begin a Phase Ib/II study for relapsed/refractory multiple myeloma in the USA before the end of June.