Seattle Genetics Snags Genmab Deal

9/14/10

Seattle Genetics, the developer of targeted antibody drugs, said today it has provided a license to Denmark-based Genmab to develop “empowered antibodies” against a target called Tissue Factor antigen found on numerous solid tumors. Seattle Genetics (NASDAQ: SGEN) is getting an undisclosed upfront fee, and retains an option to co-develop any drugs it wants on a 50-50 basis with Genmab after the first stage of clinical trials is complete. The Seattle Genetics technology is designed to link antibodies, which can home in on specific targets on cells, with toxins that can make them more potent.

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