Pfizer forms licensing agreement with Seattle Genetics
BOTHELL, Wash. — Pfizer has paid Seattle Genetics $8 million to license its antibody technology, Seattle Genetics said Thursday.
Seattle Genetics, based in Bothell, Wash., said Pfizer would pursue antibodies for treating an unspecified form of cancer using its antibody-drug conjugate technology. ADCs are monoclonal antibodies that selectively deliver anti-cancer agents to tumor cells. Seattle Genetics has developed anti-tumor drugs called auristatins, which are attached to antibodies and then used to kill the cancer cells while sparing noncancer cells.
Under the deal, Pfizer is responsible for research, product development, manufacturing and commercialization of any products created under the collaboration, and Seattle Genetics is eligible to receive milestones of more than $200 million, as well as royalties on sales.
“This collaboration reflects the increasing value of our ADC technology and strong interest in its potential among leaders in the drug development community,” Seattle Genetics chief business officer Eric Dobmeier said. “We now have 10 ongoing ADC collaborations, six collaborator ADCs using our technology are in clinical development and several additional programs are advancing toward the clinic.”