Seattle Genetics and Abbott expand ADC collaboration

24 October 2012

US biotech firm Seattle Genetics (Nasdaq: SGEN) says it has expanded its antibody-drug conjugate (ADC) collaboration with health care major Abbott Laboratories (NYSE: ABT) under which Abbott will pay an upfront fee of $25 million for rights to utilize Seattle Genetics’ auristatin-based ADC technology with antibodies to additional oncology targets.

In addition, Seattle Genetics may receive up to $220 million in potential milestone payments per additional target upon achieving predetermined development and commercial objectives, as well as mid-to-high single-digit royalties on worldwide net sales of any resulting products under the multi-target collaboration.

Among other companies which have licensed the technology from Seattle Genetics are Astellas Pharma, Bayer, Celldex Therapeutics, Daiichi Sankyo, Genentech, GlaxoSmithKline, Millennium/Takeda, Pfizer and Progenics.

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