Seattle Genetics earns milestone payment from CuraGen

By Elaine Rigoli

Tampa, Fla., June 22 - Seattle Genetics, Inc. has achieved a milestone under its antibody-drug conjugate (ADC) collaboration agreement with CuraGen Corp., triggering an undisclosed payment to Seattle Genetics.

The milestone was achieved upon CuraGen's start of a phase 1 clinical trial with its lead ADC, CR011-vcMMAE, for the treatment of metastatic melanoma.

ADCs have the potential to transform the field of antibody-based therapies by further enhancing the therapeutic efficacy of monoclonal antibodies for treatment of cancer and other serious diseases, officials said.

Under the ADC collaboration, CuraGen has exclusive rights to use Seattle Genetics' ADC technology against two specific targets selected by CuraGen. Seattle Genetics received an upfront technology access fee and CuraGen pays ongoing technology access and material supply fees.

CuraGen has also agreed to make progress-dependent milestone payments and pay royalties on net sales of ADC products.

CuraGen is responsible for research, product development, manufacturing and commercialization of any products resulting from the collaboration.

Seattle Genetics, based in Bothell, Wash., is a biotechnology company focused on the development of monoclonal antibody-based therapies for the treatment of cancer and immunologic diseases.

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