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Mar 22, 2011

Abbott to Use Seattle Genetics’ Antibody-Drug Conjugate Platform for $8M Up Front

Abbott to Use Seattle Genetics’ Antibody-Drug Conjugate Platform for $8M Up Front

Milestone fees due to Seattle Genetics could total $200 million.[Markus Schnatmann-Fotolia.com]

  • Abbott Laboratories will pay Seattle Genetics an initial fee of $8 million for rights to use the latter’s antibody-drug conjugate (ADC) technology on an oncology target. Pending achievement of certain development, regulatory, and commercial milestones, Seattle Genetics is eligible to receive from Abbott up to approximately $200 million. The firm also stands to earn royalties on worldwide net sales.

    In addition, Seattle Genetics will receive annual maintenance fees and research support payments for assistance provided to Abbott under the collaboration. Abbott is responsible for research, product development, manufacturing, and commercialization of all resulting ADC products.

    ADCs are mAbs that selectively deliver potent anticancer agents to tumor cells. Seattle Genetics’ technology combines auristatins through stable linker systems to specific antibodies. The linker systems are designed to be stable in the bloodstream and release the cell-killing agent once inside targeted cancer cells.

    Seattle Genetics says that it has 11 ongoing ADC collaborations including deals with Bayer, Genentech, GlaxoSmithKline, and Millenium. Seattle Genetics has reportedly generated more than $155 million from ADC licensing deals to date. Most recently, Pfizer signed on with $8 million up front to use Seattle Genetics’ ADC platform. The deal was reported on January 6, and Seattle Genetics could make about $200 million in milestones.

    There are currently 11 ADCs in clinical development across both internal and collaborator pipelines. The lead candidate is brentuximab vedotin, which is partnered with Millenium. A BLA was submitted in February covering the treatment of relapsed or refractory Hodgkin lymphoma and systemic anaplastic large cell lymphoma.

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