Item 1.02. Termination of a Material Definitive Agreement.

On July 17, 2022, Sesen Bio, Inc. (the "Company") terminated the Master Bioprocessing Services Agreement (the "Agreement"), dated October 4, 2018, between the Company and FUJIFILM Diosynth Biotechnologies U.S.A., Inc. ("Fujifilm"), as a result of the Company's previously disclosed restructuring plan following the decision to pause further development of the Company's lead asset, VicineumTM in the US. The Company has requested that Fujifilm cease all work under the Agreement and refrain from incurring any additional costs or expenses. As a result of the termination, and in accordance with the terms of the Agreement, the Company has the responsibility to pay Fujifilm for certain non-manufacturing stage services and cGMP batches of drug substance of Vicineum. The terms of the Agreement are more fully described in the Company's Form 8-K filed with the Securities and Exchange Commission on October 9, 2018.

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