Seattle Genetics Has What Others Want (at Motley Fool)

By Brian Lawler July 10, 2008 Comments (0) Few things are better in biotech than holding the rights to a sought-after technology. Earlier in the week, budding biopharma Seattle Genetics (Nasdaq: SGEN) inked a deal with Daiichi Sankyo giving the latter the rights to some of Seattle Genetics' technology in exchange for $4 million paid upfront, potential milestone payments, and royalties from any drugs resulting from the out-licensing deal. Seattle Genetics is letting Daiichi Sankyo take advantage of its antibody-drug conjugate technology, which is designed to help build more potent and focused anti-cancer compounds. Other drugmakers, like Progenics Pharmaceuticals (Nasdaq: with Seattle Genetics to get access to this platform technology, although no drug candidates using this tech are near approval. What's alluring about a... [read full story]