Seattle Genetics and CuraGen Expand Antibody-Drug Conjugate Collaboration
Tuesday February 15, 9:01 am ET
BOTHELL, Wash.--(BUSINESS WIRE)--Feb. 15, 2005--Seattle Genetics, Inc. (Nasdaq:SGEN - News) announced today that CuraGen Corporation (Nasdaq:CRGN - News) has exercised its option to designate a second antigen target under the parties' existing antibody-drug conjugate (ADC) collaboration, triggering a $1.0 million payment to Seattle Genetics. Seattle Genetics entered into the ADC collaboration with CuraGen in June 2004, at which time CuraGen paid an upfront fee of $2.0 million for access to the ADC technology for one antigen target.
"ADCs are becoming an increasingly important aspect of antibody-based therapy development because the cytotoxic payloads they deliver and release within target cells can enhance the therapeutic potential of antibodies that have targeting ability but lack sufficient potency on their own," stated Clay B. Siegall, Ph.D., President and Chief Executive Officer of Seattle Genetics. "CuraGen has made significant strides with their first ADC program utilizing our technology, and we look forward to collaborating on an additional ADC target."
"We are pleased to expand our collaboration with Seattle Genetics and apply their ADC technology to a second antibody in our portfolio," stated Timothy M. Shannon, M.D., Executive Vice President of Research and Development and Chief Medical Officer at CuraGen. "This technology is initially being used in CR011, an ADC being investigated as a potential treatment for metastatic melanoma. CR011 is expected to enter clinical trials in the first half of 2006 and broaden our pipeline of cancer drugs that includes two therapeutics currently in Phase II."
Under the terms of the agreement, CuraGen has rights to use Seattle Genetics' ADC technology with antibodies against up to two targets selected by CuraGen. CuraGen also pays ongoing technology access and material supply fees and has agreed to make progress-dependent milestone payments and pay royalties on net sales of ADC products. CuraGen 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. |
