Seagen is on a roll this week. After naming David R. Epstein as its new CEO, the Washington-based biotech announced that Adcetris (brentuximab vedotin) has been given FDA approval for the treatment of children aged two years and above with high-risk classical Hodgkin lymphoma.
After six months of searching for its next chief executive, Washington’s largest biotech firm has found its match. On Thursday, Seagen named David R. Epstein as CEO.
Seagen and LAVA Therapeutics inked a licensing deal for LAVA’s Gammabody platform for solid tumors, which can potentially exceed $700 million.
Merck’s bid to buy the cancer-focused Seagen has hit a roadblock after the two companies failed to agree on a price, according to a Bloomberg report published Friday, citing sources familiar with the matter.
On a collaboration streak, Merck is pouring a potential $3.5 billion into a partnership with circular RNA company Orna Therapeutics to develop and commercialize multiple oncology and infectious disease programs.
As the biotech world awaits the announcement of Merck’s anticipated buyout of Seagen, an arbitrator came down on the side of Daiichi Sankyo in a patent battle against the Seattle-based biotech.
Merck is in late-stage discussions to acquire Seagen for about $40 billion, sources told The Wall Street Journal. Seagen is an appealing oncology target for Merck at a time when the latter is looking to bolster its cancer portfolio as mega-blockbuster Keytruda (pembrolizumab) teeters on the patent cliff.