Seattle Genetics of Bothell, Daiichi Sankyo sign deal

By Eric Fetters Herald Writer BOTHELL -- Seattle Genetics has signed a collaboration deal with a Japanese biotechnology firm that wants to develop the local company's antibody-drug conjugate technology. The deal brings Bothell-based Seattle Genetics $4 million immediately, as well as milestone payments and royalties from any approved drugs developed under the collaboration with Daiichi Sankyo. Seattle Genetics' patented antibody-drug conjugate technology links powerful antibodies to drugs to make them more potent and targeted toward cancer-causing cells. The technology's effectiveness is being tested in Seattle Genetics' own SGN-35, the company's most advanced antibody-drug conjugate. It is in phase 1 tests against Hodgkin's lymphoma and other cancers. The agreement with Daiichi Sankyo is for the development of conjugates... [read full story]