Issue Date: December 21, 2009
Seattle Genetics, Millennium In Pact
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.
- Chemical & Engineering News
- ISSN 0009-2347
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