Seagen Inc.

Xenon Pharmaceuticals has appointed Darren Cline as Chief Commercial Officer to lead commercial strategy for azetukalner, the company's lead Phase 3 candidate targeting epilepsy, major depressive disorder, and bipolar depression.

The 15th World ADC San Diego conference (November 4-7, 2024) represents the industry's largest and most comprehensive ADC-focused forum, featuring 120+ speakers across six development tracks.

• Akari Therapeutics has appointed Mark F. Kubik as Head of Business Development - Oncology, bringing over 25 years of experience in transformative deal creation across oncology therapeutics. • Kubik will lead business development activities for Akari's novel antibody-drug conjugate (ADC) platform and its lead asset AKTX-101, which utilizes a first-in-class spliceosome inhibitor payload. • The strategic hire aims to position Akari as a key player in the growing ADC market, capitalizing on increasing Big Pharma interest in early-stage ADC technologies with novel mechanisms of action.

• A US jury ruled that Daiichi Sankyo and AstraZeneca's breast cancer drug Enhertu infringes Seagen's patent, resulting in a $42 million damages award for past royalties. • The disputed patent covers antibody-drug conjugate technology using auristatin compounds, with the jury finding willful infringement in Enhertu's design and manufacture. • The verdict could have significant financial implications as Enhertu's sales doubled last year to $426 million, with potential expansion into HER2-low breast cancer representing a $3 billion opportunity.

• Pfizer has named Jeffrey Legos, a veteran Novartis executive with over two decades of oncology drug development experience, as its new chief oncology officer, replacing interim leader Roger Dansey. • Under Legos' leadership at Novartis, the company secured notable approvals for drugs like Pluvicto and Kisqali, contributing to over 40 regulatory approvals throughout his career. • The appointment comes as Pfizer aims to revitalize its oncology division, which generated about 25% of its $64 billion revenue in 2023, amid declining COVID-19 product sales and upcoming patent expirations.

DelveInsight's latest pipeline analysis reveals 40+ pharmaceutical companies actively developing 50+ therapeutic candidates for urothelial carcinoma treatment, indicating robust research activity in this space.

• Seagen has entered a $2.6 billion licensing agreement with Chinese biotech RemeGen for disitamab vedotin, a HER2-targeting antibody-drug conjugate, with $200 million paid upfront. • The drug has already received conditional approval in China for HER2-positive gastric cancer and breakthrough designation from FDA for bladder cancer. • This strategic move positions Seagen to compete with established HER2-targeting ADCs like AstraZeneca/Daiichi Sankyo's Enhertu and Roche's Kadcyla in multiple cancer indications.

Antibody-drug conjugates (ADCs) combine monoclonal antibody specificity with potent small molecule cytotoxicity, precisely delivering toxins to tumors and sparing normal tissues.

Pfizer is focusing on debt reduction following the acquisition of Seagen, an oncology biotech, to improve its financial flexibility.

• Activist investor Starboard Value's $1 billion stake and campaign to challenge Pfizer CEO Albert Bourla's leadership has lost momentum after failing to demonstrate compelling evidence for management change. • Pfizer's Q3 2024 revenues showed over 30% growth compared to Q3 2023, with $854 million in sales from the Seagen acquisition, strengthening Bourla's position and strategic decisions. • Despite criticism of Pfizer's $70 billion post-pandemic acquisitions, experts argue that Bourla's reinvestment of COVID-19 profits through strategic M&As, including the $43 billion Seagen deal, shows prudent long-term planning.