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Biotechnology industries

Seattle Genetics Licenses ADC Technology to Progenics Pharmaceuticals

Strategic Insights

— 1 min read

Seattle Genetics, Inc. has licensed its proprietary antibody-drug conjugate (ADC) technology to PSMA Development Company LLC, a joint venture between Progenics Pharmaceuticals, Inc. and Cytogen Corporation. This multi-year agreement provides PDC with access to the ADC technology for use with antibodies targeting prostate-specific membrane antigen (PSMA), a protein highly expressed on prostate cancer cells. The license agreement includes a $2.0 million upfront fee, progress-dependent milestone payments, and royalties on net sales of resulting ADC products.

Key Takeaways:

  • Seattle Genetics has licensed its ADC technology to PSMA Development Company LLC for use with antibodies targeting PSMA.
  • The license agreement includes a $2.0 million upfront fee, and progress-dependent milestone payments.
  • PDC will pay royalties on net sales of resulting ADC products, with Seattle Genetics receiving material supply and annual maintenance fees, as well as research support payments.
  • ADCs utilize the targeting ability of monoclonal antibodies to deliver potent, cell-killing payloads to specific cells, and can increase the therapeutic potential of antibodies with targeting ability but limited or no inherent cell-killing activity.
  • Prostate cancer is the most common type of cancer found in American men, with the American Cancer Society estimating 232,090 new cases in the US in 2005, and 30,350 deaths.
  • The license agreement demonstrates the potential of ADC technology in cancer treatment, particularly for prostate cancer.

Statistics:

  • $2.0 million: upfront fee paid by PDC to Seattle Genetics for access to ADC technology.
  • 232,090: estimated new cases of prostate cancer in the US in 2005 (American Cancer Society).
  • 30,350: estimated deaths from prostate cancer in the US in 2005 (American Cancer Society).

Sources:

  • Seattle Genetics, Inc.
  • PSMA Development Company LLC
  • Progenics Pharmaceuticals, Inc.
  • Cytogen Corporation
  • Health & Medicine Week
  • NewsRx.com (via Health & Medicine Week)

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