Sesen Bio, Inc (NASDAQ:SESN) is moving slightly lower in the pre-market session after soaring 15.50% in the previous trading session.
Sesen Bio Announces Global Supply Partnership with Qilu Pharmaceutical
- today announced that on Tuesday, June 1, 2021 the Company entered into a global supply agreement for Vicineum™ drug substance and drug product with the Company’s partner in China, Qilu Pharmaceutical.
- Under the terms of the global supply agreement, Qilu Pharmaceutical will be part of the manufacturing network for global commercial supply of Vicineum drug substance and drug product.
- In February 2021, the U.S. Food and Drug Administration (FDA) accepted for filing the Company’s Biologics License Application (BLA) for Vicineum for the treatment of BCG-unresponsive non-muscle invasive bladder cancer (NMIBC) and granted the application Priority Review, with a target Prescription Drug User Fee Act (PDUFA) date of August 18, 2021.
- The Company anticipates initiating promotion to physicians and patients in the US upon approval, with commercial product supply broadly available to urology clinics by the fourth quarter of 2021.
“Given the chronic product shortage issues that exist for patients with NMIBC, we have thoughtfully developed what we believe to be a very reliable and robust supply chain with world-class manufacturing partners,” said Dr. Thomas Cannell, president and chief executive officer of Sesen Bio. “Qilu Pharmaceutical has extensive biomanufacturing expertise and experience supplying products for commercial sale around the world, which positions them well to support the anticipated significant global demand for Vicineum.”
Market Action
As of 8:23, SESN stock went down 6 cents or 1.55% to $3.81. So far the stock has traded 101K shares traded hands.
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