COPENHAGEN (dpa-AFX) - Genmab A/S (GEN) and Seattle Genetics, Inc. (SGEN) announced that Seattle Genetics, Inc. has exercised its option to co-develop tisotumab vedotin. The companies originally entered into a commercial license and collaboration agreement in October 2011 under which Seattle Genetics had the right to exercise a co-development option for tisotumab vedotin at the end of Phase I clinical development. Going forward, the companies will co-develop and share all future costs and profits for tisotumab vedotin on a 50:50 basis.
Tisotumab vedotin, an antibody-drug conjugate targeting tissue factor, is currently being evaluated in Phase I/II clinical studies in solid tumors.
Genmab A/S noted that the announcement does not impact the 2017 financial guidance issued by the company on May 10, 2017.
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