Seattle Genetics Achieves Milestones Under Antibody-Drug Conjugate Collaboration with Celltech Group
BOTHELL, Wash.--(BUSINESS WIRE)--June 17, 2003--Seattle Genetics, Inc. (Nasdaq:SGEN - News) announced today that it has achieved two preclinical production milestones under its antibody-drug conjugate (ADC) collaboration agreement with Celltech Group (LSE:CCH - News; NYSE:CLL - News), which trigger certain payments to Seattle Genetics.
The two companies formed the collaboration in March 2002 to provide Celltech with a license to Seattle Genetics' ADC technology for use with Celltech's antibodies and antibody fragments directed against specific diseases.
"We are excited by the progress being made with our ADC technology in our collaboration with Celltech," stated Clay B. Siegall, Ph.D., President and Chief Executive Officer of Seattle Genetics. "By addressing issues such as stability, potency, toxicity and ease of manufacturing, we believe Seattle Genetics' ADC technology provides a next-generation approach to targeted therapy."
Seattle Genetics' ADC technology utilizes highly potent, cell-killing drugs and stable, enzyme-cleavable linkers. The synthetic drug-linkers are attached to monoclonal antibodies or antibody fragments in such a way that the ADCs are stable in blood but release their payload of drug under conditions present inside target cells. Published research has demonstrated that ADCs employing Seattle Genetics' technology exhibit greater specificity and lower toxicity in preclinical models than corresponding conventional conjugates. Seattle Genetics' ADCs have induced regressions and cures of established tumors at doses as low as 1/60th the maximum tolerated dose in preclinical models.
"We are pleased with the results achieved to date utilizing Seattle Genetics' technology," commented Dr. Melanie Lee, Director of Research and Development at Celltech. "We look forward to making further progress in our collaboration towards developing novel therapies for cancer and immunological diseases utilizing our antibody and antibody fragment technology alongside Seattle Genetics' ADC technology."
Under the terms of the multi-year collaboration agreement, Celltech paid Seattle Genetics an upfront technology access fee and is paying research and reagent fees. Celltech has also agreed to make progress-dependent milestone payments and pay royalties on net sales of any resulting products. Celltech is responsible for product development, manufacturing and marketing of any products generated through the collaboration. ... |
