Seattle Genetics has a new agreement with Bayer HealthCare to jointly develop cancer-fighting drugs.
Bayer will pay fees of up to $20 million for worldwide rights to utilize Seattle Genetics’ auristatin-based antibody-drug conjugates technology.
Antibody-drug conjugates are designed to attack cancer tumor cells in a much more targeted way with the goal of lessening negative effects on healthy cells.
Bothell-based Seattle Genetics could also get up to about $500 million in potential milestone payments, along with royalties on worldwide net sales of any resulting products under the collaboration. Bayer is responsible for research, product development, manufacturing and commercialization of all products under the agreement.
- ‘Historic’ tuition cut sets state apart from rest of U.S.
- Seattle man charged with vehicular homicide in cyclist’s death
- Nurse dies from injuries in attack near CenturyLink Field
- Seahawks mailbag: Bobby Wagner's contract, Brandon Mebane's future, and more
- As fast-moving wildfire hits Quincy, police say Wenatchee blaze man-made
Most Read Stories
Shares of Seattle Genetics fell 20 cents, or 0.7 percent, to $29.70 at Tuesday’s close.