Date: 2011-04-19
Type of information: R&D agreement
Compound: antibody-drug conjugate (ADC)
Company: Genmab (Denmark) Seattle Genetics (USA - WA)
Therapeutic area: Cancer - Oncology
Type agreement: R&D
Action mechanism:
Disease:
Details: Genmab and Seattle Genetics have entered into a second antibody-drug conjugate (ADC) research collaboration agreement. Under the new agreement, Genmab has rights to utilize Seattle Genetics’ ADC technology with HuMax-CD74, an antibody in pre-clinical development to target CD74, which is expressed on a wide range of hematological malignancies and solid tumors. Genmab is responsible for research, manufacturing, pre-clinical development and Phase I clinical evaluation of ADCs under this new collaboration. Seattle Genetics will receive research support payments for any assistance provided to Genmab. If Seattle Genetics opts into an ADC product at the end of Phase I, a payment would be due to Genmab and the companies would co-develop and share all future costs and profits for the product on a 50:50 basis. If Seattle Genetics does not opt in to an ADC product, Genmab would pay Seattle Genetics fees, milestones and mid-single digit royalties on worldwide net sales of the product.
Financial terms: Seattle Genetics received an undisclosed upfront payment and has the right to exercise a co-development and co-commercialization option for any resulting ADC products at the end of Phase I clinical development.
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