Seagen Inc (SGEN)

[surf1944]

9:01AM Seattle Genetics expands antibody-drug conjugate collaboration with Abbott (ABT) (SGEN) 26.03 : Co announced that it has expanded its antibody-drug conjugate (ADC) collaboration with Abbott (ABT). Under the expanded deal, Abbott will pay an upfront fee of $25 million for rights to utilize Seattle Genetics' auristatin-based ADC technology with antibodies to additional oncology targets. In addition, Seattle Genetics may receive up to $220 million in potential milestone payments per additional target upon achieving predetermined development and commercial objectives, as well as mid-to-high single-digit royalties on worldwide net sales of any resulting products under the multi-target collaboration.