Millennium Pharmaceuticals is paying $60 million up front for development and commercialization rights to Seattle Genetics’ late-stage antibody-drug conjugate (ADC), brentuximab vedotin (SGN-35). The deal could bring Seattle another $230 million in milestones plus double-digit sales royalties.
Seattle retains full commercialization rights to brentuximab vedotin in the U.S. and Canada. Millennium’s parent company, Takeda Pharmaceutical, has exclusive commercialization rights in the rest of the world. The partners will equally co-fund development costs worldwide, except in Japan, where Takeda will fund all development of brentuximab vendotin. Takeda’s funding over the first three years of the collaboration is expected to top $75 million.
Brentuximab vedotin is a CD30-targeting candidate currently undergoing a registrational Phase II trial in relapsed or refractory Hodgkin lymphoma under a Special Protocol Assessment with the FDA. It is designed to provide the basis for regulatory submissions in the U.S. and Europe during 2011. The drug is also in late-stage clinical trials as a treatment for systemic anaplastic large cell lymphoma.