Seattle Gen achieves milestone in Genentech accord

Seattle Genetics says that it has achieved a milestone under its antibody-drug conjugate collaboration with fellow US biotechnology firm Genentech. This was triggered by Genentech's filing of an Investigational New Drug application with the Food and Drug Administration for an ADC utilizing Seattle's technology.

"Genentech and our other collaborators continue to make strong progress with ADCs utilizing our technology, and we expect multiple ADC programs to advance into the clinic over the next several years," said Eric Dobmeier, chief business officer of Seattle.

Under the terms of the ADC collaboration agreement, Genentech has rights to use Seattle's ADC technology with antibodies against targets it selects. Genentech is responsible for research, product development, manufacturing and commercialization activities under the collaboration. Seattle is entitled to receive fees, progress-dependent milestones and royalties on net sales of any resulting ADC products.