* Seattle to get $8 mln upfront, $200 mln in milestones
* Deal gives Pfizer right to cancer conjugate technology
* Pfizer to supply material, maintenance fee
* Seattle Genetics shrs up 3 pct
(Adds background, updates share movement)
BANGALORE, Jan 6 Seattle Genetics (SGEN.O) said
it would receive $208 million from Pfizer Inc (PFE.N) for
giving the world's biggest drugmaker the rights to utilize its
antibody technology to treat a single cancer target.
Seattle Genetics, which has signed ten such deals so far,
said it would receive $8 million upfront and over $200 million
in milestone payments.
Its new partner Pfizer will be responsible for research,
product development, manufacturing and commercialization of
products, Seattle said in a statement.
Pfizer will supply material, annual maintenance fees and
research support payments for assistance provided by the
biotechnology firm, it said.
The deal involves development of antibodies to a single
cancer target using Seattle Genetics' antibody-drug conjugate
Seattle Genetics' technology consists of monoclonal
antibodies, auristatins, which deliver potent anti-cancer
agents to affected cells.
It currently has in testing potential treatments for
non-Hodgkin lymphoma, renal cell carcinoma and certain
autoimmune diseases in early-stage studies. The company is also
conducting a combination study for the treatment of non-Hodgkin
lymphoma and multiple myeloma.
The company had signed a similar deal with Japan's Takeda
Pharmaceutical Co (4502.T) on the compound brentuximab as a
potential treatment for Hodgkin's lymphoma.
Both companies expect to file for marketing application of
Brentuximab in the first quarter to treat patients with either
Hodgkin's lymphoma or anaplastic large cell lymphoma (ALCL) who
have stopped responding to other therapies.
The company also has a partnership with Astellas Pharma
(4503.T) on the antibody-drug conjugate ASG-5ME, which is
currently in early-stage studies as a treatment for pancreatic
and prostate cancer.
It also counts Roche Holding AG ROG.VX and
GlaxoSmithKline (GSK.L) among its partners.
Shares of Seattle Genetics were up 3 percent at $16 in
early trade Thursday on Nasdaq. Pfizer shares were up 2 cents
at $18.13 on the New York Stock Exchange.
(Reporting by Vidya L Nathan in Bangalore; Editing by Vyas