Seattle Genetics gets $4M up front as part of ADC deal with Daiichi Sankyo

US biotechnology firm Seattle Genetics has entered into an exclusive, worldwide collaboration agreement with Japan's Daiichi Sankyo for the development of antibody-drug conjugates targeting a single antigen found on multiple types of solid tumors. Under the terms of the deal, Seattle will receive an upfront payment of $4.0 million, progress-dependent milestones and mid-single digit royalties on worldwide net sales of resulting ADC products. Daiichi is responsible for research, product development, manufacturing and commercialization of all ADC products under the collaboration. Seattle will receive material supply and annual maintenance fees as well as research support payments for assistance provided to Daiichi. Seattle is advancing its own pipeline of ADC programs, including SGN-35, which is in two Phase I trials for patients with Hodgkin lymphoma and other CD30-positive hematologic malignancies.