Brief: Sesen Bio And Unit Terminate The Exclusive License Agreement Dated July 30, 2020

Carisma Therapeutics

23/12/2022 13:28

Dec 23 (Reuters) - Sesen Bio Inc  SESN.O :
    * CO AND UNIT TERMINATED THE EXCLUSIVE LICENSE AGREEMENT
DATED
JULY 30, 2020
    * COMPANY SHALL MAKE A ONE-TIME AGGREGATE PAYMENT TO QILU OF
$1.4
MILLION
    * TERMINATED AGREEMENT BETWEEN CO, UNIT, AND QILU
PHARMACEUTICAL
CO., LTD
    * AS A RESULT OF TERMINATION OF LICENSE AGREEMENT, ALL
RIGHTS TO
VICINEUM IN CHINA, HONG KONG, MACAU AND TAIWAN HAVE REVERTED TO
CO, UNIT
    * COMPANY CURRENTLY RETAINS ALL GLOBAL RIGHTS TO VICINEUM
    * RETAINS ALL GLOBAL RIGHTS TO VICINEUM & IS CONTINUING TO
WORK
WITH FINANCIAL ADVISOR TO EXPLORE STRATEGIC ALTERNATIVES FOR
VICINEUM

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 ((Reuters.Briefs@thomsonreuters.com))