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Bayer AG Strikes Collaboration With Seattle Genetics Inc Of Up To $520 Million-DJ


Tuesday, 25 Jun 2013 07:41am EDT 

Dow Jones reported that Seattle Genetics Inc has struck a new antibody-drug conjugate collaboration with Bayer AG under which Bayer AG will pay up to $520 million in connection with its use of Seattle Genetics' auristatin-based drug technology. Bayer AG will pay up to $20 million in upfront and option-exercise fees for world-wide rights to utilize the technology with antibodies to several oncology targets. Seattle Genetics Inc is also eligible to receive up to about $500 million in potential milestone payments, as well as royalties on world-wide net sales of any resulting products under the multi-target collaboration. Bayer AG is responsible for research, product development, manufacturing and commercialization of all products under the collaboration. 

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