Seattle Genetics Gets $12M From Agensys
Luke Timmerman11/23/09
Seattle Genetics, the Bothell, WA-based developer of cancer drugs, said today it will get a $12 million upfront fee from Agensys, an affiliate of Japan-based Astellas Pharma, under a renegotiated partnership to develop targeted antibody treatments loaded with toxins to make them more potent. Seattle Genetics (NASDAQ: SGEN) struck its first partnership with Agensys in January 2007, but the new partnership allows for the two companies to collaborate on multiple new targets of cancer drugs.
Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.
