Seattle Genetics announced a potentially lucrative deal with Genentech to create more antibody drug conjugates with the latters targets. The deal calls for a $12 M payment to Seattle Genetics now with milestones that could possibly reach as high as $900 M in the future. Seattle Genetics will also be eligible for royalty payments on commercial products in the mid-single digit range.
Genetech was encouraged with the results it had seen with T-DM-1 a combination of Herceptin with a cytotoxin. Genentech is supposed to have more than 50 other candidates in its pipeline for possible antibody drug conjugation (ADC) in oncology applications.
We believe antibody-drug conjugates will play an important role in the future of cancer therapy. Genentech is committed to exploring the therapeutic potential of ADCs in a variety of hematologic malignancies and solid tumors,” said James Sabry, vice president of partnering at Genentech.
Posted by Bruce Lehr August 3rd 2010.