- Seattle Genetics (NASDAQ:SGEN +1.6%) receives a one-time $20M milestone payment from collaboration partner Takeda Pharmaceutical Company (OTCPK:TKPHF)(TKPYY) triggered by Takeda surpassing $200M in ADCETRIS (brentuximab) sales in its territory in 2015. SGEN will recognize the payment as royalty revenue in Q1.
- Under the terms of the companies' ADCETRIS collaboration agreement, SGEN has commercialization rights in the U.S. and Canada and Takeda elsewhere. SGEN is entitled to royalties of mid-teens to mid-twenties on Takeda's net sales in its territory in addition to certain milestones.
- ADCETRIS is an antibody-drug conjugate consisting of an anti-CD30 monoclonal antibody attached to microtubule disrupting agent, monomethyl auristatin E (MMAE). The linker system it uses is designed to be stable in the bloodstream but releases MMAE when it binds to CD30-expressing cancer cells. It is cleared in the U.S. for the treatment of certain lymphomas.