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news.Seattle Genetics has signed an agreement with Pfizer, under which Pfizer will use Seattle Genetics' antibody-drug conjugate (ADC) technology with antibodies to a single oncology target.
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According to the agreement, Seattle Genetics is expected to receive an upfront of $8m from Pfizer.
Under the agreement, Pfizer has the responsibility for manufacturing, research and commercialization of the of any ADC products under the collaboration.
Pfizer will pay around $200m to Seattle Genetics in progress-dependent milestones as well as royalties on worldwide net sales of any resulting ADC products.
Seattle Genetics also will receive material supply and annual maintenance fees as well as research support payments for assistance provided to Pfizer under the collaboration.
Seattle Genetics chief business officer Eric Dobmeier said that they now have ten ongoing ADC collaborations, six collaborator ADCs using their technology are in clinical development, and several additional programs are advancing towards the clinic.
"We have generated more than $145m from ADC licensing, and we have the potential to receive significant future milestones and royalties for ADCs developed by our collaborators," Dobmeier said.