Brief: Sesen Bio Executes Asset Purchase Deal With F. Hoffmann-La Roche Ltd, Hoffman-La Roche Inc

Carisma Therapeutics

18/07/2022 14:02

July 18 (Reuters) - Sesen Bio Inc  SESN.O :
    * SESEN BIO INC - HAS EXECUTED AN ASSET PURCHASE AGREEMENT
WITH F.
HOFFMANN-LA ROCHE LTD AND HOFFMAN-LA ROCHE INC
    * SESEN- ROCHE PURCHASED ALL PATENT RIGHTS, KNOW-HOW RELATED
TO
MONOCLONAL ANTIBODY EBI-031, ALL OTHER IL-6 ANTI-IL ANTAGONIST
ANTIBODY TECHNOLOGY
    * SESEN BIO INC - DEAL FOR UP TO $70 MILLION
    * SESEN BIO INC - PREVIOUS LICENSE AGREEMENT WITH ROCHE
DATED JUNE
10, 2016 WAS TERMINATED
    * SESEN BIO INC - PRIOR TO TERMINATION OF ROCHE LICENSE
AGREEMENT,
COMPANY HAD RECEIVED $50 MILLION IN UPFRONT AND MILESTONE
PAYMENTS FROM ROCHE
    * SESEN BIO INC - ASSET PURCHASE AGREEMENT INCLUDES A $40
MILLION
PAYMENT TO SESEN BIO UPON EXECUTION OF ASSET PURCHASE AGREEMENT

Further company coverage:  SESN.O 

 ((Reuters.Briefs@thomsonreuters.com;))