Replies to post #104 on Seagen Inc (SGEN)

[surf1944]

Seattle Genetics, Astellas developing cancer drug
Seattle Genetics and Astellas start development of second experimental cancer drug

On Thursday June 9, 2011, 7:18 am EDT

BOTHELL, Wash. (AP) -- Seattle Genetics Inc. and Japanese drugmaker Astellas Pharma Inc. will team up on a second antibody cancer drug, the companies said Thursday.

The two said the drug targets an antigen found on several solid tumors, and in preclinical studies, it has been active on tumors of the including cancers of the bladder, breast, and lung. During the first quarter of this year, Astellas filed for clearance to start human trials of the drug candidate, which is designated ASG-22ME. They plan to test the drug on as many as 50 patients.

The companies began collaborating in January 2007 and expanded the partnership in 2009. They are conducting an early-stage clinical trial of a potential treatment for prostate and pancreatic cancer. Seattle Genetics and Astellas' Agensys unit will share development costs and sales, and they will split any profits on the two drugs. Seattle Genetics has an option to share costs and profits on a third drug candidate.