Genmab and Seattle Genetics have entered into their second antibody-drug conjugate (ADC) research collaboration under which Genmab has rights to use Seattle Genetics’ ADC technology with HuMax-CD74, an antibody in preclinical development to treat a range of hematological malignancies and solid tumors. Seattle Genetics received an undisclosed upfront payment and has the right to exercise a co-development and co-commercialization option for any resulting products at the end of Phase I development.

Genmab is responsible for research, manufacturing, preclinical development and Phase I evaluation. Seattle Genetics will receive research support payments. If Seattle Genetics selects a product at the end of Phase I, Genmab will receive a payment and the companies would co-develop and share all future costs and profits equally. If Seattle Genetics does not opt in to an ADC product, Genmab would pay Seattle Genetics fees, milestones and royalties on sales.

“The expanded collaboration with Genmab provides us with another opportunity to augment our future ADC product pipeline based on data from a phase I clinical trial,” said Eric L. Dobmeier, Chief Business Officer of Seattle Genetics. “We now have co-development options for four of our collaborators’ ADC programs, reflecting our ability to maximize the potential of our technology through strategic collaborations with organizations that have complementary capabilities.”