Seattle Genetics, Genmab to develop cancer therapeutics

BOTHELL, Wash. Biotech companies Seattle Genetics and Genmab will collaborate to develop antibody treatments for cancer, the two companies announced Tuesday.

Seattle Genetics, based in the Seattle suburb of Bothell, Wash., and Denmark-based Genmab will develop the treatments using Seattle Genetics’ antibody-drug conjugate technology. Seattle Genetics received an undisclosed upfront payment and will have the right to exercise a co-development option for any products at the end of early-stage clinical development.

“ADC technology represents the next promising wave of cancer therapeutics, combining the best characteristics of antibodies and chemotherapy into one,” Genmab CEO Jan van de Winkel said.