Deals In Depth: September 2020
Executive Summary
Seattle Genetics and Merck penned an agreement to globally develop and commercialize (on a co-exclusive basis) Seattle Genetics’ ladiratuzumab vedotin, an investigational antibody-drug conjugate in Phase II trials for breast cancer and other solid tumors. The deal has a potential value of over $4bn. While Gilead Sciences entered into a definitive agreement to acquire Immunomedics Inc. for $88 per share in cash, or approximately $21bn. The transaction is expected to close in Q4 2020. Financing reached $14.6bn in biopharma, $824m in devices and $1.9bn in diagnostics.