Seattle Genetics, Genmab Expand ADC Alliance

Seattle Genetics, Inc.  and Genmab have entered an additional antibody-drug conjugate (ADC) collaboration under which Genmab will pay $11 million upfront for exclusive rights to use Seattle Genetics’ auristatin-based ADC technology with its HuMax-AXL, an antibody targeting multiple types of solid cancers. Seattle Genetics is also entitled to receive more than $200 million in potential milestones and royalties on worldwide sales of any resulting products.
 
Also, prior to Genmab’s initiation of a Phase III study for any resulting products, Seattle Genetics has the right to exercise an option to increase royalties in exchange for a reduction in milestone payments owed by Genmab. Genmab remains in full control of development and commercialization.
 
“This collaboration with Genmab further extends the reach of our industry-leading ADC technology for use with novel oncology targets, while providing us with a compelling financial value proposition as the program advances,” said Natasha Hernday, vice president, corporate development at Seattle Genetics. “Genmab’s impressive track record in the development of antibody-based therapies for the treatment of cancer, including an ADC in a Phase I clinical trial for solid tumors utilizing Seattle Genetics technology from our first agreement, make them a strong partner for this new collaboration.”
 
“This new collaboration with Seattle Genetics adds another ADC program to our innovative pre-clinical pipeline of antibodies developed using the latest technological advances in cancer therapeutics. Pre-clinical work identified AXL as an excellent target for an ADC therapeutic approach,” said Jan van de Winkel, Ph.D., chief executive officer of Genmab. “Accessing state-of-the art technology of companies such as Seattle Genetics who are experts in their field provides another means for Genmab to develop differentiated cancer therapeutics while retaining maximal ownership of our therapeutic products.”
 
Under the September 2010 ADC alliance for HuMax-TF-ADC, Seattle Genetics has the right to exercise a co-development option to share all future costs and profits for HuMax-TF-ADC at the end of Phase I.