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Benzinga
Benzinga
Technology
Vandana Singh

Sanofi, Seagen Collaborate For Antibody-Drug Conjugates Against Cancer Targets

Sanofi Seagen SGEN SNY Sanofi SA Seagen Inc
  • Sanofi SA (NASDAQ:SNY) and Seagen Inc (NASDAQ:SGEN) have announced an exclusive collaboration agreement to design, develop, and commercialize antibody-drug conjugates (ADCs) for up to three cancer targets. 
  • The collaboration will utilize Sanofi's proprietary monoclonal antibody (mAb) technology and Seagen's proprietary ADC technology. 
  • ADCs are antibodies engineered to deliver potent anti-cancer drugs to tumor cells expressing a specific protein, and Sanofi currently has one ADC in development.
  • Under the terms of the collaboration, Seagen and Sanofi will co-fund global development activities and share equally in any future profits. 
  • In addition, Sanofi will make an undisclosed payment to Seagen for each of the three targets as they are selected. 
  • The first target under the collaboration has already been designated.
  • Price Action: SGEN stock closed 0.54% higher at $137.60 on Tuesday. SNY shares are up 0.14% at $51.90 during the premarket session on the last check Wednesday.
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