Seattle Genetics and Genmab enter into new antibody-drug conjugate collaboration
Additional collaboration combines Genmab’s proprietary antibodies and Seattle Genetics’ ADC technology and will target AXL expressed on multiple tumor types
US-based Seattle Genetics and Danish biotech Genmab have entered into an additional antibody-drug conjugate (ADC) collaboration.
Under the new agreement, Genmab will pay an upfront fee of $11m for exclusive rights to utilise Seattle Genetics’ auristatin-based ADC technology with Genmab’s HuMax-AXL, an antibody targeting AXL which is expressed on multiple types of solid cancers. Seattle Genetics is also entitled to receive more than $200m in potential milestone payments and mid-to-high single digit royalties on worldwide net sales of any resulting products.
Seattle Genetics and Genmab entered into an ADC collaboration for HuMax-TF-ADC in September 2010. HuMax-TF-ADC, targeting the Tissue Factor antigen, is in a Phase I trial for solid tumors. Seattle Genetics has the right to exercise a co-development option to share all future costs and profits for HuMax-TF-ADC at the end of Phase I.
'This collaboration with Genmab further extends the reach of our industry-leading ADC technology for use with novel oncology targets, while providing us with a compelling financial value proposition as the program advances,' said Natasha Hernday, Vice President, Corporate Development at Seattle Genetics.
'Pre-clinical work identified AXL as an excellent target for an ADC therapeutic approach,' added Dr Jan van de Winkel, Chief Executive Officer of Genmab. 'Accessing state-of-the art technology of companies such as Seattle Genetics provides another means for Genmab to develop differentiated cancer therapeutics while retaining maximal ownership of our therapeutic products.'
