The conjugate combines Seagen's drug linker technology with RemeGen's HER2 antibody and has demonstrated effectiveness for treating urothelial, gastric, and breast cancers. The U.S. Food and Drug Administration awarded the technology breakthrough therapy designation in 2020 "for use in second-line treatment of patients with HER2-expressing, locally advanced or metastatic urothelial cancer who have previously received platinum-containing chemotherapy," the two firms said.

According to the terms of the deal, Seagen will pay RemeGen $200 million for global development and marketing rights for disitamab vedotin outside of RemeGen's market territory. It will pay RemeGen up to $2.4 billion in potential milestone payments.

Merck invests $1B in Seagen
Merck has invested in oncology pharmaceutical developer Seagen in a deal worth $1 billion in equity investment.