Seattle Genetics Announces Antibody-Drug Conjugate Collaboration with Daiichi Sankyo
News Jul 11, 2008
Seattle Genetics, Inc. announced that it has entered into an exclusive, worldwide collaboration agreement with Daiichi Sankyo Co., Ltd. for the development of antibody-drug conjugates (ADCs) targeting a single antigen found on multiple types of solid tumors.
Under the terms of the collaboration, Seattle Genetics will receive an upfront payment of $4 million, progress-dependent milestone payments and mid-single digit royalties on worldwide net sales of resulting ADC products.
Daiichi Sankyo is responsible for research, product development, manufacturing and commercialization of all ADC products under the collaboration.
Seattle Genetics will receive material supply and annual maintenance fees as well as research support payments for assistance provided to Daiichi Sankyo in developing ADC products.
ADCs utilize the targeting ability of monoclonal antibodies to deliver potent, cell-killing payloads to specific cells. Seattle Genetics has developed proprietary technology employing synthetic, highly potent drugs that can be attached to antibodies through proprietary linker systems.
The linkers are designed to be stable in the bloodstream but to release the drug payload under specific conditions once inside target cells, thereby sparing non-target cells many of the toxic effects of traditional chemotherapy.
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