Seattle Genetics, the Bothell, WA-based developer of cancer drugs, said today it licensed its technology to Millennium: The Takeda Oncology Company. Seattle Genetics (NASDAQ: [[ticker:SGEN]]) will get $4 million upfront for a worldwide license to use technology that combines antibodies that seek out tumors, with toxins that can make them more potent. Millennium will pay for development of the product candidate, and will pay a mid-single digit percentage royalty on sales to Seattle Genetics if it ever turns the technology into a product.
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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