Genmab, Seattle Genetics deal
Seattle Genetics granted Genmab rights to use its antibody-drug conjugate (ADC) technology with Genmab's preclinical cancer candidate HuMax-CD74-ADC, an ADC against CD74 molecule major histocompatibility complex class II invariant chain. Genmab is responsible for preclinical and Phase I testing of any resulting products, after which Seattle Genetics will have an option to co-develop the products. If Seattle Genetics exercises the option, the companies will share all future costs and profits 50/50 for any co-developed products. Seattle Genetics will receive an upfront payment, and is eligible for milestones and mid-single-digit royalties on any products not co-developed. Seattle Genetics will also receive research payments for any assistance provided to Genmab. Further financial details were not disclosed. ...