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Seattle Genetics Announces Tenth Collaborator ADC Program in Clinical Development

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^{Published in Health and Fitness on Wednesday, April 13th 2011 at 6:11 GMT by Market Wire}  

BOTHELL, Wash.--([ BUSINESS WIRE ])--Seattle Genetics, Inc. (Nasdaq:SGEN) announced today that ten programs utilizing the companya™s proprietary antibody-drug conjugate (ADC) technology are now in clinical development across its 11 current ADC collaborations. This includes two additional ADC programs for which Investigational New Drug applications were recently submitted to the U.S. Food and Drug Administration by Genentech, a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY), triggering milestone payments to Seattle Genetics. In addition to the 10 collaborator ADC programs, Seattle Genetics is conducting clinical trials of three other ADCs, including its lead program, brentuximab vedotin (SGN-35).

"Our collaboratorsa™ continued advancement of new ADCs into the clinic illustrates the strong and growing interest in this approach to address the unmet needs of cancer patients"

aOur collaboratorsa™ continued advancement of new ADCs into the clinic illustrates the strong and growing interest in this approach to address the unmet needs of cancer patients,a said Eric L. Dobmeier, Chief Business Officer of Seattle Genetics. aSignificant progress with ADCs utilizing Seattle Geneticsa™ technology in multiple ongoing clinical trials is driving substantial technology value and further demonstrates its potential future role in the way cancer is treated.a

The ten collaborator ADCs in clinical development include six by Genentech, and one each by Agensys, an affiliate of Astellas, Bayer, Celldex and Progenics. Seattle Genetics has received more than $155 million to date from its ADC collaborations, and has the potential to receive greater than $3 billion in potential milestone payments plus royalties on future ADC product sales.

ADCs are monoclonal antibodies that are designed to selectively deliver anti-cancer agents to tumor cells. With over a decade of experience and knowledge in ADC innovation, Seattle Genetics has developed proprietary technology employing synthetic, cell-killing agents called auristatins (such as MMAE and MMAF) and stable linker systems that attach the auristatin to the antibody. Seattle Geneticsa™ novel linker systems are designed to be stable in the bloodstream and release the potent cell-killing agent once inside targeted cancer cells. This approach is intended to spare non-targeted cells and thus may reduce many of the toxic effects of traditional chemotherapy while enhancing antitumor activity.

About Seattle Genetics

Seattle Genetics is a clinical-stage biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for the treatment of cancer and autoimmune disease. In February 2011, the company submitted a Biologics License Application to the U.S. Food and Drug Administration for its lead product candidate, brentuximab vedotin, for the treatment of relapsed or refractory Hodgkin lymphoma and relapsed or refractory systemic anaplastic large cell lymphoma. Brentuximab vedotin is being developed in collaboration with Millennium: The Takeda Oncology Company. In addition, Seattle Genetics has four other clinical-stage programs: SGN-75, ASG-5ME, dacetuzumab (SGN-40) and SGN-70. Seattle Genetics has collaborations for its ADC technology with a number of leading biotechnology and pharmaceutical companies, including Abbott, Bayer, Celldex Therapeutics, Daiichi Sankyo, Genentech, GlaxoSmithKline, Millennium, Pfizer and Progenics, as well as ADC co-development agreements with Agensys, an affiliate of Astellas, and Genmab. More information can be found at [ www.seattlegenetics.com ].

Certain of the statements made in this press release are forward looking, such as those, among others, relating to the therapeutic potential and future clinical progress, regulatory approval and commercial launch of products utilizing Seattle Geneticsa™ ADC technology. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include risks related to adverse clinical results as our product candidates or our collaboratorsa™ product candidates move into and advance in clinical trials, risks inherent in early stage development and failure by Seattle Genetics to secure or maintain relationships with its collaborators. More information about the risks and uncertainties faced by Seattle Genetics is contained in the Companya™s Form 10-K for the year ended December 31, 2010 filed with the Securities and Exchange Commission. Seattle Genetics disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.