Seattle Genetics Licenses Antibody-Drug Linking Technology to Daiichi Sankyo

7/8/08

Seattle Genetics, the developer of targeted antibody drugs for cancer, said today it has licensed its technology for linking antibodies to potent cell-killing agents to Daiichi Sankyo. The Tokyo-based drugmaker will get exclusive rights to develop antibody-drug combination treatments against a single target found on multiple types of tumors. Seattle Genetics (NASDAQ: SGEN) will receive $4 million upfront, milestone payments based on progress in development, and royalties worth a “mid-single digit” percentage of sales if research leads to a product.

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