Seagen IncSGEN has announced an exclusive license agreement to develop, manufacture and commercialize LAVA Therapeutics N.V.’sLVTX LAVA-1223.
LAVA-1223 is a preclinical asset that utilizes LAVA’s proprietary Gammabody technology to target epidermal growth factor receptor (EGFR)-expressing solid tumors.
Under the terms of the agreement, Seagen will pay $50 million upfront, up to approximately $650 million in potential milestone payments.
The agreement also allows Seagen to exclusively negotiate rights to apply LAVA’s proprietary Gammabody platform on up to two additional tumor targets.
LAVA-1223 employs a targeted approach 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 the impact on normal antigen-expressing tissue.
Activating the adaptive immune system with this approach can provide durable immune responses and possibly enhance patient survival.
Price Action: LVTX shares are up 119.2% at $5.26 during the premarket session on the last check Monday.
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