Seattle Genetics has entered into an exclusive, worldwide collaboration agreement with Daiichi Sankyo for the development of antibody-drug conjugates (ADCs) targeting a single antigen found on multiple types of solid tumors.

Under the terms of the collaboration, Seattle Genetics will receive an upfront payment of $4 million, development milestones and royalties on worldwide sales of any ADC products. Daiichi Sankyo is responsible for research, product development, manufacturing and commercialization of all ADC products under the collaboration. Seattle Genetics will also receive material supply and annual maintenance fees as well as research support payments for providing assistance to Daiichi Sankyo in developing ADC products.
   
“This collaboration reflects the increasing value of our ADC technology to empower antibodies, and the growing evidence that ADCs can impact the way cancer is treated,” said Eric L. Dobmeier, chief business officer of Seattle Genetics. “The therapeutic potential of our ADC technology is being demonstrated through compelling clinical data with our lead internal ADC, SGN-35, as well as progress across our multiple ADC collaborations. We are pleased to be working with Daiichi Sankyo, one of the largest Japanese pharmaceutical companies and a global leader in oncology drug development.”