Seattle Gen gets milestone from CuraGen
US firm Seattle Genetics says that it has achieved a milestone under its antibody-drug conjugate collaboration agreement with CuraGen Corp, triggering an undisclosed payment. The milestone was achieved upon CuraGen's initiation of a Phase I clinical trial with its lead ADC, CR011-vcMMAE, for the treatment of metastatic melanoma.
"ADCs have the potential to transform the field of antibody-based therapies by further enhancing the therapeutic efficacy of monoclonal antibodies for treatment of cancer and other serious diseases," said Clay Siegall, chief executive of Seattle. "We continue to make significant advances with our ADC technology, as demonstrated both by this milestone under our collaboration with CuraGen, as well as progress with our internal ADC programs, including our planned IND filing for SGN-35 in mid-2006," he added.
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