Genmab: Seattle Genetics exercises option on cancer drug.
(CercleFinance.com) - Denmark's Genmab said on Tuesday that Seattle Genetics has exercised its option to co-develop tisotumab vedotin, an agent for anti-tumour therapy.
The companies originally entered into a commercial license and collaboration agreement in October 2011, under which Seattle Genetics had the right to exercise an option at the end of Phase I clinical development.
Tisotumab vedotin is now currently being evaluated in Phase I/II clinical studies in solid tumours.
Going forward, Genmab and Seattle Genetics will co-develop and equally share all future costs and profits for tisotumab vedotin.
The drug has already delivered promising results in patients with recurrent cervical cancer.
Genmab Copenhagen-listed shares were up 0.1 percent at 1,442 Danish kroner after the news.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The companies originally entered into a commercial license and collaboration agreement in October 2011, under which Seattle Genetics had the right to exercise an option at the end of Phase I clinical development.
Tisotumab vedotin is now currently being evaluated in Phase I/II clinical studies in solid tumours.
Going forward, Genmab and Seattle Genetics will co-develop and equally share all future costs and profits for tisotumab vedotin.
The drug has already delivered promising results in patients with recurrent cervical cancer.
Genmab Copenhagen-listed shares were up 0.1 percent at 1,442 Danish kroner after the news.
Copyright (c) 2017 CercleFinance.com. All rights reserved.