Seattle and Millennium to co-develop ADCs

USA-based Seattle Genetics has entered into a worldwide collaboration agreement with Millennium, a wholly-owned subsidiary of Japan's Takeda  Pharmaceutical, for the development of antibody-drug conjugates.

Under the terms of the collaboration, Millennium will pay a $4.0-million  upfront fee for an exclusive license to an initial antigen expressed on  solid tumors. The firm can also exercise options for exclusive licenses  to two other antigens upon payment of additional fees to Seattle  Genetics. Millennium is responsible for the R&D, manufacturing and  commercialization of all products under the collaboration. Seattle  Genetics will receive progress-dependent milestones and mid-single digit  royalties on worldwide net sales, as well as material supply and annual  maintenance fees and research support payments.

Seattle Genetics is advancing its own proprietary pipeline of such  programs, including SGN-35, which is in a pivotal trial for Hodgkin  lymphoma and a planned Phase II study for systemic anaplastic large cell  lymphoma; and SGN-75, which is advancing towards a planned 2009  investigational New Drug Application for CD70-positive  malignancies.