– Seagen to Develop and Commercialize
LAVA-1223, a Bispecific T Cell Engager Designed to Target and
Activate Vγ9Vδ2 (Gamma Delta) T Cells in the Presence of
EGFR-Expressing Solid Tumors –
– LAVA to Receive Upfront Payment of $50
Million, With Potential for Milestones of up to Approximately $650
Million and Royalties–
– Seagen also has an Option to Nominate up to
Two Additional Tumor Targets for Bispecifics using LAVA’s
Proprietary Gammabody™ Platform –
Seagen Inc. (Nasdaq: SGEN), a world leader and pioneer in
antibody-drug conjugate (ADC) therapies, and LAVA Therapeutics N.V.
(Nasdaq: LVTX), a clinical-stage immuno-oncology company focused on
developing its proprietary Gammabody™ platform of bispecific gamma
delta T cell engagers, today announced an exclusive license
agreement in which Seagen will work to develop, manufacture and
commercialize LAVA-1223. LAVA-1223 is an advanced preclinical asset
that utilizes LAVA’s proprietary Gammabody™ technology to target
epidermal growth factor receptor (EGFR)-expressing solid
tumors.
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Under the terms of the agreement, Seagen will receive an
exclusive global license for LAVA-1223 and pay LAVA $50 million
upfront; up to approximately $650 million in potential development,
regulatory and commercial milestones; and royalties ranging from
the single digits to the mid-teens on future sales. The agreement
also provides Seagen with the opportunity to exclusively negotiate
rights to apply LAVA's proprietary Gammabody™ platform on up to two
additional tumor targets.
“Seagen is committed to driving innovation to improve the lives
of people with cancer, and this agreement represents the company’s
entry into a novel class of therapeutics that are designed to
overcome the challenges of standard T cell engagers by leveraging
the activity of a distinct T cell subset,” said Roger Dansey, M.D.,
interim CEO and Chief Medical Officer, Seagen. “This exclusive
license from LAVA provides Seagen with the opportunity to harness
its expertise in developing first-in-class targeted cancer
therapies, along with the company’s global development and
commercialization capabilities.”
LAVA-1223 employs a targeted approach that is designed to
amplify natural tumor recognition by directing gamma delta T cells
to the EGFR+ tumor to kill target cells and trigger immune
activation while minimizing impact to normal antigen-expressing
tissue. Activating the adaptive immune system with this approach
has the potential to provide durable immune responses with the
possibility of enhancing patient survival.
“LAVA is pioneering the development of gamma delta bispecific
antibodies to treat cancer, and we are pleased to work with Seagen
in this pursuit. The combination of LAVA’s proprietary Gammabody
platform and deep bispecific expertise, with Seagen’s leadership in
developing targeted therapies for cancer and commercialization
infrastructure, makes this an ideal partnership to advance novel
therapies for patients,” said Stephen Hurly, President and Chief
Executive Officer of LAVA Therapeutics. “This agreement enables
LAVA to further validate its platform in a second solid tumor
product candidate, bringing us closer toward our goal of generating
effective Gammabody medicines for cancer patients. We look forward
to working with Seagen to develop potential next generation cancer
treatments.”
About LAVA-1223
LAVA-1223 is a potential first-in-class therapy designed
specifically to target and activate Vγ9Vδ2 (gamma delta) T cells in
the presence of epidermal growth factor receptor (EGFR)-expressing
tumor cells. EGFR is a well-validated target that is over-expressed
in multiple solid tumor types including colorectal cancer, lung
cancer and head and neck cancer.
About Seagen
Seagen is a global biotechnology company that discovers,
develops and commercializes transformative cancer medicines to make
a meaningful difference in people’s lives. Seagen is headquartered
in the Seattle, Washington area, and has locations in California,
Canada, Switzerland and the European Union. For more information on
our marketed products and robust pipeline, visit www.seagen.com and
follow @SeagenGlobal on Twitter.
About LAVA Therapeutics
LAVA Therapeutics N.V. is a clinical-stage immuno-oncology
company utilizing its proprietary Gammabody™ platform to develop a
portfolio of bispecific gamma delta T cell engagers for the
potential treatment of solid and hematological malignancies. The
Company utilizes bispecific antibodies engineered to selectively
kill cancer cells by triggering Vγ9Vδ2 (Vgamma9 Vdelta2) T cell
antitumor effector functions upon cross-linking to tumor-associated
antigens. For more information, please visit
www.lavatherapeutics.com, and follow us on LinkedIn, Twitter and
YouTube.
Seagen Forward-Looking Statements
Certain statements made in this press release are
forward-looking, such as those, among others, relating to the
therapeutic potential of LAVA-1223 and the Gammabody™ platform,
including possible efficacy, safety and therapeutic uses, as well
as clinical development plans. Actual results or developments may
differ materially from those projected or implied in these
forward-looking statements. Factors that may cause such a
difference include, without limitation, the possibility that
clinical trials may fail to establish sufficient efficacy; that
adverse events or safety signals may occur; that adverse regulatory
actions or other setbacks could occur in clinical trials even after
promising results in earlier clinical trials or preclinical
studies; that setbacks in development could occur as a result of
the difficulty and uncertainty of pharmaceutical product
development; and other factors. More information about the risks
and uncertainties faced by Seagen is contained under the caption
“Risk Factors” included in the company’s Quarterly Report on Form
10-Q for the quarter ended June 30, 2022 filed with the Securities
and Exchange Commission. Seagen disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
LAVA’s Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements,
including with respect to the company’s anticipated growth and
clinical development plans, including the timing of clinical
trials. Words such as “anticipate,” “believe,” “could,” “will,”
“may,” “expect,” “should,” “plan,” “intend,” “estimate,”
“potential” and similar expressions (as well as other words or
expressions referencing future events, conditions or circumstances)
are intended to identify forward-looking statements. These
forward-looking statements are based on LAVA’s expectations and
assumptions as of the date of this press release and are subject to
various risks and uncertainties that may cause actual results to
differ materially from these forward-looking statements.
Forward-looking statements contained in this press release include,
but are not limited to, statements about the preclinical data,
clinical development and scope of clinical trials, and the
potential use of our product candidates to treat various tumor
targets. Many factors, risks and uncertainties may cause
differences between current expectations and actual results
including, among other things, the timing and results of our
research and development programs and preclinical and clinical
trials, our ability to obtain regulatory approval for and
commercialize our product candidates, our ability to leverage our
initial programs to develop additional product candidates using our
Gammabody™ platform, and the failure of LAVA’s collaborators to
support or advance collaborations or our product candidates. The
COVID-19 pandemic may disrupt our business and that of the third
parties on which we depend, including delaying or otherwise
disrupting our clinical trials and preclinical studies,
manufacturing and supply chain, or impairing employee productivity.
In addition, there may be adverse effects on our business condition
and results from general economic and market conditions and overall
fluctuations in the United States and international equity markets,
including deteriorating market conditions due to investor concerns
regarding inflation and hostilities between Russia and Ukraine.
LAVA assumes no obligation to update any forward-looking statements
contained herein to reflect any change in expectations, even as new
information becomes available.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220926005204/en/
Seagen Contact: For Media David Caouette 310-430-3476
dcaouette@seagen.com
For Investors Douglas Maffei, Ph.D. 425-527-4881
dmaffei@seagen.com
LAVA Contact: For Investors: ir@lavatherapeutics.com
For IR/Media Argot Partners 212-600-1902
lava@argotpartners.com
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