Millennium expands cancer pact with red-hot Seattle Genetics
Takeda's Millennium has opted to expand its antibody-drug conjugate deal with Seattle Genetics ($SGEN), paying an undisclosed fee to exercise an option to designate a second antigen target outlined under their 2009 collaboration pact.
Seattle Genetics has been in the spotlight with stellar mid-stage trial results for SGEN-35, or brentuximab vedotin. The therapy is considered a leader among a new type of cancer drug that combines an antibody for targeting cancer and a linker that drops a cancer-killing agent right on target, allowing for targeted, high-dose blasts of toxic agents. Late last year new data put Seattle Genetics and its partner Takeda on target to gain a potential approval for marketing the drug this year. And the biotech has been on a deal-making tear with developers who want access to its red hot technology.
"This expansion of our ADC collaboration demonstrates Millennium's continuing commitment to our ADC technology," stated Eric Dobmeier, Chief Business Officer of Seattle Genetics. "We currently have 10 ongoing ADC collaborations and have generated nearly $150 million from ADC licensing deals to date. In addition, there are 11 ADCs in clinical development utilizing Seattle Genetics' technology."
- here's the Seattle Genetics release