Seattle Genetics becomes a biotech partner of Genmab for developing antibody-drug conjugate (ADC).
Genmab will pay $11 million for exclusive rights to Seattle Genetics’ ADC technology with Genmab’s HuMax, an antibody targeting AXL, which is present in multiple types of solid cancers.
Seattle Genetics will also become entitled to receive $200 million in potential milestone payments and mid-to-high single digit royalties on worldwide net sales of resulting products.
The company will have the right to exercise an option to increase the royalties to double digits in exchange for the reduction of milestone payments owed by Genmab in the event of a Phase 3 study for new products.
For further deal information visit Current Agreements (subscription required)
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