Seattle Genetics, Unum to develop ACTR therapies
Seattle Genetics Inc. (NASDAQ:SGEN) and Unum Therapeutics (Cambridge, Mass.) will co-develop cancer therapies combining Unum's antibody-coupled T cell receptor (ACTR) platform with Seattle Genetics' tumor-specific antibodies. The deal covers two product candidates; Seattle Genetics will have the option to create a third ACTR product.
Unum will receive $25 million up front, and Seattle Genetics will invest $5 million in Unum's next round of funding. Unum President and CEO Charles Wilson declined to say when the round would occur. Seattle Genetics will fund R&D through Phase I. The companies intend to share development costs and U.S. profits for products developed under the collaboration, while Seattle Genetics will have ex-U.S. rights. Unum is eligible for $615 million in option fees and milestones, plus ex-U.S. royalties. ...