RemeGen rockets on news of Seagen deal worth up to $2.6 billion
US biotech Seagen (Nasdaq: SGEN) and Chinese biopharma RemeGen (HKG: 9995) have announced that the two companies have entered into an exclusive worldwide licensing agreement to develop and commercialize disitamab vedotin, a novel HER2-targeted antibody-drug conjugate (ADC).
Shares in RemeGen rocketed by 22% during Tuesday’s trading in Hong Kong.
Disitamab vedotin combines the drug-linker technology originally developed by Seagen with RemeGen’s new HER2 antibody exhibiting higher affinity and an increased internalization rate as compared to trastuzumab in preclinical models.
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