SeaGen Expands Millennium Deal

3/15/11

Seattle Genetics (NASDAQ: SGEN) said today that it has gotten an additional undisclosed fee from its partner, Cambridge, MA-based Millennium: The Takeda Oncology Company, to expand a collaboration that seeks to develop “empowered antibody” drugs for cancer. Millennium first gained access to Seattle Genetics’ technology, which links antibodies to toxins that make them more potent, in April 2009. Now Millennium is expanding its usage of the technology, from one biological target found on solid tumors, to two. The companies are also partners on brentuximab vedotin, which Seattle Genetics hopes will become its first FDA approved product for cancer later this year.

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