Seattle Genetics Achieves Milestone Under ADC Collaboration with CuraGen

Seattle Genetics, Inc. has announced that it has achieved a milestone under its antibody-drug conjugate (ADC) collaboration agreement with CuraGen Corporation, triggering an undisclosed payment to Seattle Genetics.

The milestone was achieved upon CuraGen's initiation of a phase I clinical trial with its lead ADC, CR011-vcMMAE, for the treatment of metastatic melanoma.

"ADCs have the potential to transform the field of antibody-based therapies by further enhancing the therapeutic efficacy of monoclonal antibodies for treatment of cancer and other serious diseases," said Clay B. Siegall, Ph.D., President and Chief Executive Officer of Seattle Genetics.

"We continue to make significant advances with our ADC technology, as demonstrated both by this milestone under our collaboration with CuraGen, as well as progress with our internal ADC programs, including our planned IND filing for SGN-35 in mid-2006."

ADCs utilize the targeting ability of monoclonal antibodies to deliver cell-killing payloads to tumor cells.

Seattle Genetics' ADC technology employs synthetic, highly potent drugs, such as monomethyl auristatin E (MMAE), which are attached to antibodies through proprietary linker systems.

The linkers are designed to be stable in the bloodstream and to release the drug payload once inside target cells, thereby minimizing the toxic effects on normal tissues seen with traditional chemotherapy.

Under the ADC collaboration agreement, CuraGen has exclusive rights to use Seattle Genetics' ADC technology against two specific targets selected by CuraGen.

Seattle Genetics received an upfront technology access fee and CuraGen pays ongoing technology access and material supply fees.

CuraGen has also agreed to make progress-dependent milestone payments and pay royalties on net sales of ADC products.

CuraGen is responsible for research, product development, manufacturing and commercialization of any products resulting from the collaboration.