Seattle Genetics earns $4M Genentech milestone
Seattle Genetics says that it will receive a $4.0 million milestone payment from its fellow USA-based collaborator Genentech. This has been triggered by Genentech's initiation of a Phase Ib clinical trial of SGN-40 in combination with Rituxan (rituximab) for patients with relapsed follicular or marginal zone non-Hodgkin lymphoma.
"Preclinical data suggest that the combination of SGN-40 and Rituxan may have enhanced activity compared to either agent alone in multiple models of non-Hodgkin lymphoma, providing support for testing this combination in the clinical setting," said Thomas Reynolds, chief medical officer of Seattle Genetics. "This trial is one of several being initiated under our collaboration with Genentech that will enable us to more fully evaluate the safety and therapeutic potential of SGN-40 for the treatment of hematologic malignancies such as non-Hodgkin lymphoma and multiple myeloma," he added.
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