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news.Genmab and Seattle Genetics have entered into a second antibody-drug conjugate (ADC) research pact, under which Genmab has the rights to use ADC technology with CD74 of Seattle Genetics.
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Following the agreement, Genmab has paid an undisclosed upfront payment to Seattle Genetics.
The agreement allows Seattle Genetics to exercise a co-development and co-commercialization option for any resulting ADC products at the end of Phase I clinical development.
Genmab will be conduccting research, manufacturing, pre-clinical development and Phase I clinical evaluation of ADCs.
Genmab will also pay research support payments to Seattle Genetics if will take any kind of assistance from Seattle Genetics.
If Seattle Genetics opts into an ADC product at the end of Phase I, a payment would be due to Genmab and the companies would co-develop and share all future costs and profits for the product on a 50:50 basis.
Additionally, if Seattle Genetics does not opt in to an ADC product, Genmab would pay Seattle Genetics fees, milestones and mid-single digit royalties on worldwide net sales of the product.
Genmab CEO Jan van de Winkel said they are very pleased to expand their collaboration with Seattle Genetics, who have been fantastic partners, and at the same time to add a HuMax-CD74 ADC to Genmab’s pre-clinical product pipeline.