Seattle Genetics completes $614m Cascadian Therapeutics acquisition

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Seattle Genetics has completed its $614 million acquisition of Cascadian Therapeutics, gaining the global rights to Tucatinib.

Tucatinib is an investigational oral tyrosine kinase inhibitor (TKI) that is highly selective for HER2, a growth factor receptor that is overexpressed in multiple cancers, including breast, colorectal, ovarian and gastric.

Tucatinib is currently being evaluated in a randomized global pivotal trial called HER2CLIMB for patients with HER2-positive (HER2+) metastatic breast cancer, including patients with or without brain metastases.

“This acquisition expands Seattle Genetics’ late-stage pipeline, providing another opportunity to bring a targeted therapy to cancer patients with a significant unmet medical need, and advances our goal of becoming a global, multi-product oncology company,” said Clay Siegall, President and CEO at Seattle Genetics.

“Tucatinib… has the potential to provide a differentiated approach to treating HER2-positive metastatic breast cancer based on its activity and tolerability profile.

“In addition, it may have a role in earlier lines of metastatic breast cancer therapy and in other solid tumours.”