Seattle Genetics Inc. said Tuesday that it has received an undisclosed payment from Takeda Pharmaceutical's Millennium unit for the licensing of a potential cancer treatment. The Takeda unit is exercising its second option to license a drug target under the companies' existing partnership. Antibody-drug conjugates, or ADCs, are antibodies designed to deliver chemotherapy treatment specifically to tumor cells. This approach is intended to spare healthy cells, thus reducing many of the toxic effects of traditional chemotherapy therapy treatment while boosting the medicine's cancer-destroying ability. Seattle Genetics is entitled to milestone payments and potential future royalties on sales. It will also receive supply and annual maintenance fees as well as research support payments for assistance provided to Millennium.
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