Seattle Genetics has exercised its option to co-develop tisotumab vedotin, an antibody-drug conjugate (ADC) for treating tumors, with Genmab, a Copenhagen, Denmark-headquartered biotechnology company.

The companies originally entered into a commercial license and collaboration agreement in October 2011 under which Seattle Genetics had the right to exercise a co-development option for tisotumab vedotin at the end of Phase I clinical development. Under the agreement, Genmab was granted rights to use Seattle Genetics ADC technology with its HuMax-TF antibody.

Going forward, Genmab and Seattle Genetics will co-develop and share all future costs and profits for tisotumab vedotin on a 50:50 basis. Seattle Genetics will be responsible for commercialization activities in the US, Canada, and Mexico while Genmab will be responsible for commercialization activities in all other territories. Each party has the option to co-promote by employing up to 40% of the sales effort in the other party’s territories.

Tisotumab vedotin is an ADC composed of a human antibody that binds to tissue factor and Seattle Genetics’ ADC technology that uses a cleavable linker and the cytotoxic drug monomethyl auristatin E.

Source: Seattle Genetics and Genmab