Issue Date: May 15, 2017
Immunomedics drops Seattle Genetics deal
Immunomedics has canceled a deal to license its lead product, the antibody-drug conjugate IMMU-132, to Seattle Genetics for $250 million. Immunomedics has instead raised $125 million from institutional investors to pay for the final stages of developing the oncology drug itself and applying for FDA approval. The change of course is part of a settlement with the venture capital firm venBio, which claimed Immunomedics was not realizing the drug’s full potential. Immunomedics founder and chair . . .
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