Seattle Genetics (SGEN -3.1%) expands a partnership with Abbott (ABT -1.1%) in which the latter...

|About: Seattle Genetics, Inc. (SGEN)|By:, SA News Editor

Seattle Genetics (SGEN -3.1%) expands a partnership with Abbott (ABT -1.1%) in which the latter will pay Seattle an upfront fee of $25M to use its antibody-drug conjugate to help develop treatments for cancer. Seattle will also receive maintenance fees and research support payments, up to $220M in milestones, and royalties (PR.)