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Seattle Genetics and Genmab team up in Ab-drug conjugate development

Sep. 10, 2014 10:21 AM ETSeagen Inc. (SGEN) StockBy: Douglas W. House, SA News Editor
  • Seattle Genetics (NASDAQ:SGEN +1.8%) and Denmark-based Genmab A/S collaborate on an antibody-drug conjugate for the potential treatment of solid tumors. Under the terms of the agreement, Genmab will pay SGEN an upfront fee of $11M for the exclusive rights to use its auristatin-based ADC technology with Genmab's HuMax-AXL antibody (expressed in multiple types of solid cancers). SGEN is eligible to receive up to $200M in potential milestone payments and mid-to-high single-digit royalties on net worldwide sales of any resulting products.
  • Prior to the start of a Phase 3 clinical trial, SGEN has the option of increasing the royalties to double digits in exchange for a reduction in milestone payments.
  • Genmab fully controls development and commercialization activities.

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