Seattle Genetics, the Bothell, WA-based developer of antibody drugs for cancer, said today it has earned an undisclosed milestone payment from MedImmune, a wholly-owned subsidiary of AstraZeneca. Seattle Genetics (NASDAQ: [[ticker:SGEN]]) is due to receive the payment because MedImmune started a clinical trial with a drug that uses Seattle Genetics’ proprietary technology for making antibody treatments more potent. Seattle Genetics has also licensed the technology to Genentech, Millennium: The Takeda Oncology Company, and Bayer, among others.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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