Seattle Genetics takes up option to co-develop additional ADC with Astellas

Japanese drug major Astellas Pharma (TYO: 4503) says that US biotech firm Seattle Genetics (Nasdaq: SGEN) has exercised an option to co-develop an additional antibody-drug conjugate (ADC) under the companies’ existing ADC collaboration agreement through Astellas affiliate Agensys.

The ADC, called ASG-15ME, targets the tumor antigen SLITRK6, which is known to be expressed on bladder and lung cancer. Agensys has submitted an Investigational New Drug application to the US Food and Drug Administration for a Phase I trial of ASG-15ME.

“Through our collaboration and co-development agreements with companies like Agensys/Astellas, Seattle Genetics continues to enhance its ability to innovate by combining our industry-leading ADC technology with proprietary cancer targets and antibodies to develop potential new treatments for patients with cancer,” said Eric Dobmeier, chief operating officer of Seattle Genetics, adding: “ADCs represent a novel therapeutic approach, and through our pipeline and collaborations more than half of the ADC candidates in clinical development utilize our technology. We look forward to working with Agensys/Astellas to advance ASG-15ME.”