- The deal could be worth up to $211 million overall, including an upfront payment of $11 million to Seattle Genetics, plus royalties and milestone payments.
- Genmab will use Seattle Genetics’ Antibody-Drug Conjugate (ADC) technology to develop proprietary ADCs. ADCs enable more targeted delivery of toxins into cancer cells, resulting in less damage to surrounding tissue.
- More than 60% of the 40 ADCs in clinical development are using Seattle Genetics’ technology.
This isn't the first deal between Genmab and Seattle Genetics. In September 2010, the two companies initiated a collaboration for an ADC that targets tissue factor antigen and is now in phase 1 trials.
The goal of the most recent collaboration is to combine Seattle Genetics' ADC technology with Genmab’s antibody, HuMax-AXL, which targets a signaling molecule involved in multiple processes of tumor development and progression. The two companies plan to move both of their ADC development projects into phase III trials.