Seattle Genetics that announced an extension of its deal with Takeda Millenium for its antibody drug conjugate technology earlier this month, now has another ADC deal with Abbott that focuses on a single cancer target. The Abbott deal calls for $8 M upfront and could pay another $200 M in milestones.
This continues Seattle Genetics roll in signing licensing deals for its ADC technology in cancer therapeutics. SeaGen now has 11 deals in place and have received licensing payments amounting to $158 M dollars. ADC technology is widely expected to play a more and more important role in cancer treatment even though the first treatment has not made it all the way to commercialization yet. SeaGen's SGN-35 for hodgkin's lymphoma is expected to be the first later this year. See Fierce Biotech.
Posted by Bruce Lehr March 25th 2011.