Seattle Genetics and Genentech Expand Antibody-Drug Conjugate
2004-11-09 09:01 (New York)
Collaboration
BOTHELL, Wash.--(BUSINESS WIRE)--Nov. 9, 2004
Seattle Genetics, Inc. (Nasdaq:SGEN) today announced
that Genentech, Inc. (NYSE:DNA) has agreed to pay a technology access
fee of $1.6 million to designate additional antigen targets under the
parties' existing antibody-drug conjugate (ADC) collaboration
agreement. Under the terms of the agreement, Genentech has rights to
use Seattle Genetics' ADC technology with antibodies against certain
targets selected by Genentech.
"We are pleased by the continued progress of our ADC technology
and the further expansion of our collaboration with Genentech," stated
Clay B. Siegall, Ph.D., President and Chief Executive Officer of
Seattle Genetics. "We believe our stable linker systems and synthetic
drug payloads position our ADC technology at the forefront of the
industry, enabling us and our partners to develop more potent
antibody-based therapies."
To date, Seattle Genetics has received approximately $20 million
in upfront payments, research and material supply fees and equity
investments from Genentech pursuant to the ADC collaboration, which
was established in April 2002 and expanded in December 2003. Genentech
has also agreed to make progress-dependent milestone payments and pay
royalties on net sales of any resulting ADC products. Genentech is
responsible for research, product development, manufacturing and
commercialization of any products resulting from the collaboration.
Seattle Genetics' ADC technology utilizes the targeting ability of
monoclonal antibodies to deliver potent, cell-killing payloads to
specific cells. This ADC technology employs synthetic, highly potent
drugs that can be attached to antibodies through proprietary linker
systems. The linkers are designed to be stable in the bloodstream but
to release the drug payload under specific conditions once inside
target cells, thereby sparing non-target cells many of the toxic
effects of traditional chemotherapy. By linking drug payloads to
monoclonal antibodies, ADCs can increase the therapeutic potential of
antibodies that have inherent cell targeting ability but lack
sufficient cell-killing activity.
About Seattle Genetics
Seattle Genetics discovers and develops monoclonal antibody-based
therapeutics to treat cancer and other human diseases. The company has
built a diverse portfolio of product candidates targeted to many types
of cancer, including three being tested in multiple ongoing clinical
trials, SGN-30, SGN-15 and SGN-40, and three in preclinical
development, SGN-35, SGN-75 and SGN-17/19. The product candidates
encompass three platform technologies: genetically engineered
monoclonal antibodies, antibody-drug conjugates (ADCs) and
antibody-directed enzyme prodrug therapy (ADEPT). Seattle Genetics has
developed leading ADC technology comprised of highly potent synthetic
drugs and stable linkers for attaching the drugs to monoclonal
antibodies. The company currently has license agreements for its ADC
technology with Genentech, Celltech Group, Protein Design Labs,
CuraGen and Bayer Pharmaceuticals and for its ADEPT technology with
Genencor International. More information about Seattle Genetics can be
found at www.seattlegenetics.com. |
