On August 5, 2021, Sesen Bio, Inc. announced that the company has entered into an exclusive licensing agreement with Eczacibasi Pharmaceuticals for the registration and commercialization of Vicineum for the treatment of BCG-unresponsive non-muscle invasive bladder cancer (“NMIBC”) in Turkey and Northern Cypress. In the United States, the Company believes it remains on track for an FDA decision on its Biologics License Application for Vicineum 1 by the target PDUFA date of August 18, 2021. Under the terms of the licensing agreement, Sesen granted EIP an exclusive license to register and commercialize Vicineum in Turkey for the treatment of BCG-unresponsive NMIBC.

Sesen Bio will receive an upfront payment of $1.5 million and is eligible to receive additional regulatory and commercial milestone payments. Upon commercialization in Turkey, Sesen Bio is also entitled to receive a 30% royalty on net sales in Turkey.