- Seattle Genetics (SGEN) enters into a collaboration with privately-held Unum Therapeutics to develop and commercialize novel antibody-coupled T cell receptor (ACTR) therapies for cancer. The partnership will leverage Unum's proprietary ACTR technology, which enables programming of a patient's T cells to attack tumor cells when co-administered with tumor-specific therapeutic antibodies, with SGEN's large portfolio of cancer targets and tumor-specific monoclonal antibodies.
- Under the terms of the agreement, SGEN will pay Unum an upfront fee of $25M and invest $5M in Unum's next round of financing. The companies will initially develop two ACTR products with SGEN having an option to add a third. Unum will be responsible for preclinical research and clinical development through Phase 1, funded by SGEN. The firms will co-develop and jointly fund post-Phase 1 programs unless either opts out. They will co-commercialize and share profits on an equal (50/50) basis in the U.S. SGEN will have exclusive commercial rights ex-U.S. and will pay Unum high-single- to mid-double digit royalties. Unum will be eligible to receive up to $615M in option fees and milestones across the three ACTR programs.
- On the basis of this deal, SGEN will provide revised 2015 financial guidance with its Q2 results, currently planned for July 30.