AbbVie has chosen to sign its third deal with Seattle Genetics to gain access to the latters linker-ADC technology. The deal calls for AbbVie to pay $25 M upfront with associated milestones that could reach as high as another $230 M plus mid- to high single digit roylaties for successful commercialization of a drug.
ADCs are one of the drug world's hot commodities and AbbVie is eager to continue linking drugs to its antibodies to a variety of cancer targets. The race is on! As stated this is the thrid deal between the two companies since 2011. AbbVie hopes to prosper in the cancer field and SeaGen has another big company to count among its partners. See Xconomy.
Posted by Bruce Lehr Jan 8th 2014.