Seattle Genetics has reported that Genentech, a wholly owned member of the Roche Group, will pay $9.5m to renew exclusive licenses to specific targets and extend the research term under the parties' existing antibody-drug conjugate (ADC) collaboration agreement. Genentech will have rights to use Seattle Genetics' ADC technology with antibodies against targets selected by Genentech.
"We believe this collaboration, coupled with our multiple other ADC collaborations, reinforces the value of our industry-leading technology. For Seattle Genetics, these collaborations broaden the reach of our technology into diverse disease settings where empowered antibodies may be able to address significant unmet medical needs," said Eric Dobmeier, chief business officer of Seattle Genetics. "In addition, these deals provide a substantial source of capital as we continue to advance our own pipeline of proprietary antibodies and ADCs for cancer."