Seattle Genetics exercises option on tisotumab vedotin

Seattle Genetics (Nasdaq: SGEN) has exercised its option to co-develop tisotumab vedotin under a collaboration with Danish biotech firm Genmab (OMX: GEN).

The companies originally entered into a commercial license and collaboration agreement in October 2011 under which Seattle Genetics had the right to exercise a co-development option for tisotumab vedotin at the end of Phase I clinical development. Tisotumab vedotin, an antibody-drug conjugate (ADC) targeting tissue factor, is currently being evaluated in Phase I/II clinical studies in solid tumors.  Going forward, Genmab and Seattle Genetics will co-develop and share all future costs and profits for tisotumab vedotin on a 50:50 basis.

“The combination of Genmab’s differentiated HuMax-TF antibody and Seattle Genetics’ clinically-validated antibody-drug conjugate (ADC) technology has resulted in encouraging preliminary data for tisotumab vedotin in selected solid tumors. We very much look forward to working with Seattle Genetics to further develop this exciting first-in-class ADC product,” said Jan van de Winkel, chief executive of Genmab.