Seattle Genetics announced today that it has achieved a milestone under its antibody-drug conjugate (ADC) collaboration agreement with Progenics Pharmaceuticals (Nasdaq:PGNX)
BOTHELL, WA, USA | October 15, 2008 | Seattle Genetics, Inc. (Nasdaq:SGEN) announced today that it has achieved a milestone under its antibody-drug conjugate (ADC) collaboration agreement with Progenics Pharmaceuticals (Nasdaq:PGNX). The milestone was triggered by Progenics’ initiation of a phase I clinical trial with its prostate-specific membrane antigen (PSMA)-targeted ADC for patients with hormone-refractory prostate cancer.
"This is the fourth product utilizing Seattle Genetics’ ADC technology to enter clinical trials, reflecting continued progress by us and our collaborators in advancing ADCs for unmet medical needs in both hematologic malignancies and solid tumors," said Eric L. Dobmeier, Chief Business Officer of Seattle Genetics. "As demonstrated by clinical data reported from our SGN-35 program, we believe that empowered antibodies will play an important role in the future of cancer therapy by combining the specificity of antibodies with the potency of cytotoxic drugs."
Under the ADC collaboration agreement, Progenics has exclusive rights to use Seattle Genetics’ ADC technology with monoclonal antibodies that target PSMA, a protein that is highly expressed on both primary and metastatic prostate cancer cells. Seattle Genetics received an upfront fee and Progenics pays ongoing technology access and material supply fees. Progenics has also agreed to make progress-dependent milestone payments and pay royalties on net sales of ADC products. Progenics is responsible for research, product development, manufacturing and commercialization of any products resulting from the collaboration.
Seattle Genetics is advancing its own proprietary pipeline of ADC programs, including SGN-35, which is in two phase I clinical trials for patients with Hodgkin lymphoma and other CD30-positive hematologic malignancies. Based on positive SGN-35 data reported at the American Society of Clinical Oncology meeting in June 2008, the company expects to finalize its SGN-35 development plans, including registration pathway, during 2008 and begin pivotal trials in the first half of 2009. Seattle Genetics is also developing a number of preclinical ADCs, including SGN-75 and an anti-CD19 ADC.
About ADCs
ADCs utilize the targeting ability of monoclonal antibodies to deliver potent, cell-killing payloads to specific cells. Seattle Genetics has developed proprietary technology employing synthetic, highly potent drugs that can be attached to antibodies through proprietary linker systems. The linkers are designed to be stable in the bloodstream but to release the drug payload under specific conditions once inside target cells, thereby sparing non-target cells many of the toxic effects of traditional chemotherapy.
About Seattle Genetics
Seattle Genetics is a clinical stage biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for the treatment of cancer and autoimmune disease. The company has four product candidates in ongoing clinical trials: SGN-40, SGN-33, SGN-35 and SGN-70. SGN-40 is being developed under a worldwide collaboration with Genentech. In addition, the company has developed proprietary antibody-drug conjugate (ADC) technology comprising highly potent synthetic drugs and stable linkers for attaching the drugs to monoclonal antibodies. Seattle Genetics has collaborations for its ADC technology with a number of leading biotechnology and pharmaceutical companies, including Genentech, Bayer, CuraGen, Progenics, Daiichi Sankyo and MedImmune, a subsidiary of AstraZeneca, as well as an ADC co-development agreement with Agensys, a subsidiary of Astellas Pharma. More information can be found at www.seattlegenetics.com.
SOURCE: Seattle Genetics, Inc.
Post Views: 60
Seattle Genetics announced today that it has achieved a milestone under its antibody-drug conjugate (ADC) collaboration agreement with Progenics Pharmaceuticals (Nasdaq:PGNX)
BOTHELL, WA, USA | October 15, 2008 | Seattle Genetics, Inc. (Nasdaq:SGEN) announced today that it has achieved a milestone under its antibody-drug conjugate (ADC) collaboration agreement with Progenics Pharmaceuticals (Nasdaq:PGNX). The milestone was triggered by Progenics’ initiation of a phase I clinical trial with its prostate-specific membrane antigen (PSMA)-targeted ADC for patients with hormone-refractory prostate cancer.
"This is the fourth product utilizing Seattle Genetics’ ADC technology to enter clinical trials, reflecting continued progress by us and our collaborators in advancing ADCs for unmet medical needs in both hematologic malignancies and solid tumors," said Eric L. Dobmeier, Chief Business Officer of Seattle Genetics. "As demonstrated by clinical data reported from our SGN-35 program, we believe that empowered antibodies will play an important role in the future of cancer therapy by combining the specificity of antibodies with the potency of cytotoxic drugs."
Under the ADC collaboration agreement, Progenics has exclusive rights to use Seattle Genetics’ ADC technology with monoclonal antibodies that target PSMA, a protein that is highly expressed on both primary and metastatic prostate cancer cells. Seattle Genetics received an upfront fee and Progenics pays ongoing technology access and material supply fees. Progenics has also agreed to make progress-dependent milestone payments and pay royalties on net sales of ADC products. Progenics is responsible for research, product development, manufacturing and commercialization of any products resulting from the collaboration.
Seattle Genetics is advancing its own proprietary pipeline of ADC programs, including SGN-35, which is in two phase I clinical trials for patients with Hodgkin lymphoma and other CD30-positive hematologic malignancies. Based on positive SGN-35 data reported at the American Society of Clinical Oncology meeting in June 2008, the company expects to finalize its SGN-35 development plans, including registration pathway, during 2008 and begin pivotal trials in the first half of 2009. Seattle Genetics is also developing a number of preclinical ADCs, including SGN-75 and an anti-CD19 ADC.
About ADCs
ADCs utilize the targeting ability of monoclonal antibodies to deliver potent, cell-killing payloads to specific cells. Seattle Genetics has developed proprietary technology employing synthetic, highly potent drugs that can be attached to antibodies through proprietary linker systems. The linkers are designed to be stable in the bloodstream but to release the drug payload under specific conditions once inside target cells, thereby sparing non-target cells many of the toxic effects of traditional chemotherapy.
About Seattle Genetics
Seattle Genetics is a clinical stage biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for the treatment of cancer and autoimmune disease. The company has four product candidates in ongoing clinical trials: SGN-40, SGN-33, SGN-35 and SGN-70. SGN-40 is being developed under a worldwide collaboration with Genentech. In addition, the company has developed proprietary antibody-drug conjugate (ADC) technology comprising highly potent synthetic drugs and stable linkers for attaching the drugs to monoclonal antibodies. Seattle Genetics has collaborations for its ADC technology with a number of leading biotechnology and pharmaceutical companies, including Genentech, Bayer, CuraGen, Progenics, Daiichi Sankyo and MedImmune, a subsidiary of AstraZeneca, as well as an ADC co-development agreement with Agensys, a subsidiary of Astellas Pharma. More information can be found at www.seattlegenetics.com.
SOURCE: Seattle Genetics, Inc.
Post Views: 60
