Seattle Genetics, Genmab Form ADC Pact

The biopharmaceutical companies, Seattle Genetics and Genmab A/S, have formed an additional antibody-drug conjugate (ADC) collaboration with potential value of more than $200 million.

Under the new agreement, Genmab will pay an upfront fee of $11 million for exclusive rights to use Seattle Genetics' auristatin-based ADC technology with Genmab's HuMax-AXL, an antibody targeting AXL, which is expressed on multiple types of solid cancers. Seattle Genetics is also entitled to receive more than $200 million in potential milestone payments and mid-to-high single-digit royalties on worldwide net sales of any resulting products. In addition, prior to Genmab's initiation of a Phase III study for any resulting products, Seattle Genetics has the right to exercise an option to increase the royalties to double digits in exchange for a reduction of the milestone payments owed by Genmab. Irrespective of any exercise of option, Genmab remains in full control of development and commercialization.

Seattle Genetics
and Genmab entered into an ADC collaboration for HuMax-TF-ADC in September 2010. HuMax-TF-ADC, targeting the Tissue Factor antigen, is in a Phase I trial for solid tumors. Seattle Genetics has the right to exercise a co-development option to share all future costs and profits for HuMax-TF-ADC at the end of Phase I.

​Seattle Genetics is a biotechnology company focused on the development and commercialization of antibody-based therapies for the treatment of cancer, including ADCs. Its lead product, Adcetris (brentuximab vedotin), is an ADC that, in collaboration with Takeda Pharmaceutical Company Limited, is commercially available for two indications in more than 40 countries, including the US, Canada, Japan, and member states of the European UnionSeattle Genetics is also advancing a pipeline of clinical-stage ADC programs. It has collaborations for its ADC technology with several biotechnology and pharmaceutical companies, including AbbVie, Agensys (an affiliate of Astellas), Bayer, Genentech, GlaxoSmithKline, and Pfizer.

Genmab specializes in the development of differentiated human antibody therapeutics for the treatment of cancer. It has one marketed antibody, Arzerra (ofatumumab), for the treatment of certain chronic lymphocytic leukemia indications and a clinical pipeline with both late- and early-stage programs. Its technology base consists  of the DuoBody platform for the generation of bispecific antibodies, and the HexaBody platform, which creates effector function enhanced antibodies.

Source: Seattle Genetics



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