Under the terms of the collaboration, Seattle Genetics will receive an upfront payment of $4 million, progress-dependent milestone payments and mid-single digit royalties on worldwide net sales of resulting antibody-drug conjugates (ADC) products.
Daiichi Sankyo is responsible for research, product development, manufacturing and commercialization of all ADC products under the collaboration. Seattle Genetics will receive material supply and annual maintenance fees as well as research support payments for assistance provided to Daiichi Sankyo in developing ADC products.
Eric Dobmeier, chief business officer of Seattle Genetics, said: “The therapeutic potential of our ADC technology is being demonstrated through compelling clinical data with our lead internal ADC, SGN-35, as well as progress across our multiple ADC collaborations.”