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Business

Seattle Genetics, Millennium In Pact

by Lisa M. Jarvis
December 21, 2009 | A version of this story appeared in Volume 87, Issue 51

Millennium, the cancer drug arm of Takeda Pharmaceuticals, will pay Seattle Genetics $60 million up front for access to brentuximab vedotin, an antibody-drug conjugate in late-stage studies to treat several types of lymphomas. Takeda wins the rights to commercialize the drug outside of the U.S. and Canada; in exchange, Seattle Genetics will receive half the development costs of the drug and up to $230 million in milestone payments. Seattle says it expects Takeda to contribute at least $75 million in development costs over the next three years. The deal comes just days after Gen­entech told Seattle Genetics it was ending their collaboration deal for dacetuzumab, an antibody against lymphomas.

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