Seattle Genetics and Abbott have expanded their antibody-drug conjugate (ADC) collaboration under which Abbott will pay $25 million upfront for rights to use Seattle Genetics’ auristatin-based ADC technology for additional oncology targets. Seattle Genetics is also eligible to receive $220 million in potential milestone payments per target for predetermined development and commercial objectives, as well as royalties on worldwide sales of any resulting products under the collaboration.
Under the newly expanded collaboration, Abbott is responsible for research, product development, manufacturing and commercialization of any ADC products. Seattle Genetics will also receive annual maintenance fees and research support payments for assistance provided to Abbott.
“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,” said Natasha Hernday, vice president, corporate development at Seattle Genetics. “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.”