Seattle Genetics Gets Milestone
Seattle Genetics (NASDAQ: SGEN) said today that it achieved a milestone under its partnership with Bayer Schering Pharma AG of Germany. The Bothell, WA-based company provided Bayer with a license to its technology for linking antibodies to toxins, with a goal of making targeted and potent anti-cancer drugs. Bayer has now submitted an application to the FDA to start a clinical trial of a drug using the technology, Seattle Genetics said. Financial terms of the agreement weren’t disclosed.