Seattle Genetics said today it has received an undisclosed milestone payment from Genentech, a wholly owned unit of Switzerland-based Roche. Seattle Genetics (NASDAQ: [[ticker:SGEN]]) is getting the payment because Genentech has filed an application with the FDA to begin clinical trials of an antibody for cancer that uses Seattle Genetics’ technology that links those targeting agents to toxins that make them more potent. Seattle Genetics has now received $110 million in total payments from partners who use the antibody-linking technology, and it stands to receive more in royalties if they ever become marketed products.
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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