Seattle Genetics, Abbott expand ADC agreement
BOTHELL, Wash.—Seattle Genetics, Inc. has announced the expansion of its antibody-drug conjugate (ADC) collaboration with Abbott Laboratories. Under the terms of the expanded agreement, Abbott will pay Seattle Genetics an upfront fee of $25 million for the rights to utilize Seattle Genetics' auristatin-based ADC technology with antibodies to additional oncology targets. Seattle Genetics will also be eligible for up to $220 million in potential milestone payments per additional target if certain development and commercial goals are met, in addition to mid- to high-single-digit royalties on worldwide net sales of any products that result from the collaboration.
Abbott is responsible for research, product development, manufacturing and commercialization of any ADC products under the expanded agreement. Seattle Genetics will also receive annual maintenance fees and research support payments for providing assistance to Abbott under the agreement. The partnership originally began in March 2011, with Abbott paying $8 million upfront for the rights to make use of Seattle Genetics' ADC technology with antibodies for a single oncology target.
"ADCs have emerged as an important therapeutic approach to cancer, driven by the FDA approval of ADCETRIS, and encouraging data from numerous clinical and preclinical ADC programs in development by Seattle Genetics and our collaborators," Natasha Hernday, vice president of Corporate Development at Seattle Genetics, said in a press release. "We are leading the field in ADC development, and this expanded collaboration with Abbott further validates our technology and approach in targeting and treating cancer."
The expansion is the second recent development with one of Seattle Genetics' ADC agreements. Earlier in the month, the company announced that it would be receiving undisclosed milestone payments with regards to its ADC collaboration with Genentech, a member of the Roche Group. The milestones were achieved by Genentech advancing two ADCs that make use of Seattle Genetics' technology into Phase II clinical development. The ADCs, anti-CD22 (DCDT2980S, RG7593) and DCDS4501A (RG7596), will be tested in a Phase II, randomized, open-label study to evaluate their safety and efficacy. Both compounds will be evaluated in combination with Rituzan in patients suffering from relapsed or refractory follicular non-Hodgkin lymphoma and relapsed or refractory diffuse large B-cell lymphoma.
The agreement with Genentech grants the company the right to utilize Seattle Genetics' ADC technology with antibodies against targets Genentech has selected, with Genentech bearing the responsibility for research and development, manufacturing and commercialization. As with the agreement with Abbott, Seattle Genetics is eligible for fees, milestone payments and royalties on net sales of products that result from the collaboration.
"Progress by our ADC collaborators, notably Genentech entering Phase II clinical development, highlight the continued promise of ADCs for the treatment of cancer and further support Seattle Genetics' leadership position in the field," Clay B. Siegall, Ph.D., president and CEO of Seattle Genetics, said in a press release regarding the announcement. "Across our internal and collaborator programs, there are more than 15 ADCs in clinical development utilizing our technology, spanning a range of both hematologic malignancies and solid tumors."