Seattle Genetics, Millennium In Pact | December 21, 2009 Issue - Vol. 87 Issue 51 | Chemical & Engineering News
Volume 87 Issue 51 | p. 23 | Concentrates
Issue Date: December 21, 2009

Seattle Genetics, Millennium In Pact

Department: Business
Keywords: Millennium, Takeda, Seattle Genetics, lymphoma

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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