Seattle Genetics Expands Patent Portfolio for SGN-40 Program
Tuesday October 4, 9:00 am ET
BOTHELL, Wash.--(BUSINESS WIRE)--Oct. 4, 2005--Seattle Genetics, Inc. (Nasdaq:SGEN - News) announced today that the U.S. Patent and Trademark Office (USPTO) has issued another patent relating to the company's SGN-40 program. Patent number 6,946,129, entitled "Recombinant anti-CD40 antibody and uses thereof," covers the humanized monoclonal antibody employed in the company's SGN-40 product candidate. Seattle Genetics is currently conducting phase I clinical trials of SGN-40 in multiple myeloma and non-Hodgkin's lymphoma. The company expects to initiate a phase I/II clinical trial of SGN-40 in chronic lymphocytic leukemia before the end of 2005.
"This is an important addition to the growing portfolio of issued patents covering our SGN-40 program," stated Eric L. Dobmeier, Senior Vice President, Corporate Development and General Counsel of Seattle Genetics. "We are actively pursuing a number of opportunities for SGN-40 in both clinical and preclinical studies because of its potential in a variety of therapeutic settings, including hematologic malignancies, solid tumors and immunologic diseases, as well as in combination with other therapies."
SGN-40 is a humanized monoclonal antibody that targets the CD40 antigen, which is expressed on most B-cell lineage hematologic malignancies, including multiple myeloma, non-Hodgkin's lymphoma and chronic lymphocytic leukemia. In addition to these indications, CD40 is expressed on solid tumors, including bladder and ovarian cancer. SGN-40 may also have applications in immunologic disease due to its role as a B-cell maturation antigen. The company plans to report data from its ongoing clinical trials of SGN-40 at the American Society of Hematology annual meeting in December 2005.
About Seattle Genetics
Seattle Genetics is a biotechnology company focused on the development of monoclonal antibody-based therapies for the treatment of cancer and immunologic diseases. The company is conducting clinical and preclinical development of a diverse portfolio of product candidates in a variety of oncology and immunology settings. In addition, Seattle Genetics has developed proprietary antibody-drug conjugate (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 a number of leading biotechnology and pharmaceutical companies, including Genentech, Bayer, CuraGen and MedImmune. More information about Seattle Genetics' pipeline and technologies can be found at www.seattlegenetics.com.
Certain of the statements made in this press release are forward-looking, such as those, among others, relating to the therapeutic potential of SGN-40 and the strength of Seattle Genetics' intellectual property portfolio. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include risks related to adverse clinical results as our product candidates move into and advance in clinical trials, risks inherent in early-stage development and failure by Seattle Genetics to secure or maintain relationships with collaborators. More information about the risks and uncertainties faced by Seattle Genetics is contained in the Company's filings with the Securities and Exchange Commission. Seattle Genetics disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Contact:
Seattle Genetics, Inc., Bothell
Peggy Pinkston, 425-527-4160
ppinkston@seagen.com
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Source: Seattle Genetics, Inc.
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