Seattle Genetics Inc. announced that it has further expanded its antibody-drug conjugate (ADC) collaboration with AbbVie Inc. Under the expanded deal, AbbVie will pay an upfront fee of $25 million for additional rights to utilize Seattle Genetics' ADC technology with AbbVie antibodies against oncology targets, including access to Seattle Genetics' pyrrolobenzodiazepine (PBD) dimer ADC technology and EC-mAb site-specific conjugation technology. In addition, Seattle Genetics could receive up to approximately $255 million in potential license fees and milestone payments per target, upon achieving predetermined development and commercial objectives, as well as mid-to-high single-digit royalties on worldwide net sales of any resulting products.
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