Seattle Genetics Reaches Genentech Milestone

Seattle Genetics has achieved a milestone under its antibody-drug conjugate (ADC) collaboration with Genentech. The milestone was triggered by Genentech’s submission of an IND application with the FDA for an ADC utilizing Seattle Genetics’ technology for the treatment of cancer.

“This IND submission is reflective of the continued progress by our collaborators in the development of product candidates based on our proprietary ADC technology,” said Eric L. Dobmeier, chief business officer of Seattle Genetics. “We are pleased that Genentech has advanced an ADC program using our technology towards clinical trials. We believe this further demonstrates the potential of ADCs to play an increasingly important role in the treatment of cancer and other serious diseases.”

ADCs are empowered monoclonal antibodies that carry potent, cell-killing drugs. Genentech has rights to use Seattle Genetics’ ADC technology with monoclonal antibodies against targets. Genentech is responsible for research, product development, manufacturing and commercialization activities under the collaboration. Seattle Genetics is entitled to receive fees, progress-dependent milestone payments and royalties on net sales of any resulting ADC products. To date, Seattle Genetics has generated approximately $110 million through ADC technology license agreements with leading biotechnology and pharmaceutical companies. The payment for the current milestone was not disclosed.