Celltech and Seattle Genetics Announce Antibody-Drug Conjugate Collaboration
SLOUGH, England, and BOTHELL, Wash., March 28 /PRNewswire-FirstCall/ -- Celltech Group plc (LSE: CCH; NYSE: CLL) and Seattle Genetics, Inc. (Nasdaq: SGEN - news) today announced a multi-target collaboration to use Seattle Genetics' antibody-drug conjugate technology with Celltech's antibody fragments directed against specific diseases, including immunological targets.
Seattle Genetics has developed synthetic, highly potent, novel drugs that can be used as payloads to dramatically increase the potency of monoclonal antibodies in situations where cell destruction is required. To attach these drugs to antibodies, Seattle Genetics has developed proprietary linkers that are stable in the bloodstream but release drugs under the conditions inside of target cells. Seattle Genetics will provide Celltech with broad access to its antibody-drug conjugate technology for use with multiple target antigens. Celltech will utilize this technology towards developing therapeutic antibody fragments linked to these toxic payloads to target and kill diseased cells.
Under the terms of the multi-year agreement, Celltech will pay an upfront technology access fee and progress-dependent milestone payments that could potentially total in excess of $30 million across all targets. In addition, Celltech will pay research and reagent fees and royalties on net sales of any resulting products. Celltech will be responsible for product development, manufacturing and marketing of any products generated through the collaboration.
Dr. Melanie Lee, Director of Research & Development at Celltech, commented: ``Access to Seattle Genetics' novel antibody-drug conjugate technology allows us to expand our proprietary antibody fragment platform into applications which require cell destruction. We believe that the combination of these two state-of-the-art technologies will facilitate the next generation of treatments for immunological and other diseases, and further strengthens Celltech's leading position in antibody therapeutics.''
``We believe there is great potential for antibody-drug conjugates as therapeutic agents,'' stated Clay B. Siegall, Ph.D., President and Chief Scientific Officer at Seattle Genetics. ``We are excited to collaborate with Celltech, a leader in the monoclonal antibody field as well as a pioneer in antibody-drug conjugates.''
About Celltech
Celltech Group plc is one of Europe's largest biopharmaceutical companies, with an extensive late stage development pipeline and a profitable, cash-generative pharmaceutical business. Celltech also possesses significant drug discovery capabilities, including a leading position in antibody engineering. With its partner, Wyeth, Celltech developed the first FDA-approved antibody targeted chemotherapeutic, Mylotarg(TM), currently approved in the US for use in relapsed AML patients aged 60 years or over. Celltech also has a number of novel PEGylated antibody fragments in development, including CDP870, being developed with partner Pharmacia for rheumatoid arthritis and Crohn's disease. More information about Celltech can be found at www.celltechgroup.com.
About Seattle Genetics
Seattle Genetics discovers and develops monoclonal antibody-based therapeutics to treat cancer and related diseases. The Company has four technologies: engineered monoclonal antibodies, antibody-drug conjugates (ADC), single-chain immunotoxins and antibody-directed enzyme prodrug therapy (ADEPT). Seattle Genetics has built a diverse portfolio of product candidates targeted to many types of human cancers, including three currently being tested in multiple ongoing clinical trials. Seattle Genetics has agreements with many organizations including Genentech, Genencor International, Medarex, Aventis, Bristol-Myers Squibb, and Eos Biotechnology. More information about Seattle Genetics can be found at www.seattlegenetics.com.
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