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Seattle Genetics, Inc.

Drug Names(s): PRO64553, SGN-14, Anti-CD40, SGN-40, RG3636

Description: SGN-40 is an anti-CD40 antibody that kills cells upon binding. CD40, a member of the tumor necrosis factor (TNF) receptor superfamily, is expressed on various immune cells, many B-cell malignancies, and some solid tumors, mediating both indirect tumor cell killing through the activation of the immune system and direct tumor cell apoptosis.

Deal Structure: Genentech and Seattle Genetics announced in January 2007 that they entered into an exclusive worldwide license agreement for the development and commercialization of SGN-40.

Under the terms of the agreement, Seattle Genetics will receive an upfront payment of $60 million, potential milestone payments exceeding $800 million and escalating double-digit royalties on annual net sales of SGN-40. The milestone payments, which are dependent upon clinical and regulatory events across multiple disease indications worldwide, as well as attainment of certain annual net sales levels, include $20 million in committed payments during the first two years of the agreement. Genentech will fund research, development, manufacturing and commercialization costs. The costs of development activities and clinical trials conducted by Seattle Genetics will be reimbursed by Genentech. Seattle Genetics also has an option for co-promotion rights on SGN-40 in the U.S.

Seattle Genetics announced in March...See full deal structure in Biomedtracker

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