Seattle Genetics, Genmab deal

Seattle Genetics granted Genmab rights to use antibody-drug conjugate (ADC) technology with Genmab's cancer candidate HuMax-AXL-ADC, an ADC against AXL receptor tyrosine kinase (AXL; UFO). Genmab will receive $11 million up front and is eligible to receive more than $200 million in milestones, plus mid-to-high single-digit royalties. Additionally, prior to Genmab's initiation of a Phase III trial for any resulting products, Seattle Genetics has the right to exercise an option to increase the royalties to double digits in exchange for a reduction of milestone payments. ...