Whatever AbbVie learned in the first stages of its collaboration with Seattle Genetics on antibody-drug conjugates must have seriously whetted the pharma company's appetite. AbbVie is now paying $25 million upfront and up to $255 million more in milestones for each new target they tackle in a greatly expanded partnership.
Whatever AbbVie learned in the first stages of its collaboration with Seattle Genetics on antibody-drug conjugates must have seriously whetted the pharma company's appetite for more.
Now that the final wrap-up of Amgen's $10.4 billion buyout of Onyx is under way, analysts can get back to one of their favorite pastimes: Speculating on the next big biotech M&A deal that could make executives rich and investors' portfolios burst with big gains.
Seattle Genetics, which has a who's who in oncology drug development signed on as ADC collaborators, gets $20 million of that upfront with the rest in milestones.
Bloomberg 's feature starts with the case of James Fan, the clinical programming manager at Seattle Genetics who contemplated suicide after being charged in a $200,000 insider trading case. Ultimately, Fan stepped back from the brink, but wound up in prison with an 18-month sentence and little in the way of career prospects.
With the armed antibody T-DM1 up for a groundbreaking approval soon, antibody-drug conjugates are hot. And Seattle Genetics, one of the leaders in the field, is riding the crest of that biotech wave with an expanded collaboration deal with Abbott Laboratories worth $25 million upfront and up to $220 million in milestones for each new cancer ADC they work on.
Mersana Therapeutics has raised $27 million in a Series A-1 financing led by new investor New Enterprise Associates (NEA), and will use the money to continue development of its Fleximer antibody-drug conjugate (ADC) platform and other ADCs. This is the first biopharma investment from NEA's recently announced $2.6 billion NEA 14 fund.
Bristol-Myers presents promising PD-1 data; Genentech boasts solid T-DM1 results; GSK aces pivotal studies; Ariad's ponatinib shines; Bayer's regorafenib delays stomach cancer; Zytiga impresses in prostate cancer; Aveo makes a PhIII case for tivozanib; Seattle Genetics expands its CD-30 horizons; ADCs arrive.
Bayer looks to secure blockbuster status for regorafenib; J&J demonstrated impressive results among pre-chemo prostate cancer patients; Aveo raises the flag for tivozanib; Seattle Genetics plans to look at new indications for Adcetris.
The companion diagnostic trend continues--and Ventana Medical Systems is involved yet again. This morning, Seattle Genetics and Takeda's Millennium unit announced that they are working with the Roche company on a companion diagnostic test for use in a study involving Adcetris.