Seagen deal for differentiated ADC lifts RemeGen’s valuation to nearly $8B  

A deal that drove China’s RemeGen to a $7.5 billion valuation Tuesday gives Seagen most global rights to an anti-HER2 antibody-drug conjugate the partners believe is differentiated from other ADCs against the target, and can address conditions for which others haven’t been approved.

The deal also fills a gap in the pipeline of ADCs developed by Seagen Inc. (NASDAQ:SGEN), complementing an oral tyrosine kinase inhibitor against HER2 that reached the market last year...