Seattle Genetics opts for another ADC under Agensys alliance
This article was originally published in Scrip
Investors appeared to welcome a decision by Seattle Genetics to exercise an option to co-develop another antibody-drug conjugate (ADC) with its strategic partner Agensys, driving up shares in the Bothell, Washington-based firm by 2.1% to $31.51 on 27 June, the day the deal was announced.
This time, Seattle Genetics is taking on ASG-15ME, an ADC that targets SLITRK6, a tumor antigen known to be expressed in multiple solid tumor types including bladder and lung cancer. Under the collaboration with Agensys, an affiliate of Japan's Astellas, first formed back in 2007, the two firms are already co-developing several other ADCs including ASG-22ME, a Nectin-4-targeting antibody for various cancers, and ASG-5ME for pancreatic and prostate cancer.
The global profits for these will be shared equally, and the partners said Seattle Genetics would make an undisclosed payment for exercising the option and fund half of the future development costs for ASG-15ME.
The therapy attaches a fully human antibody to the synthetic cytotoxic agent monomethyl auristatin E via a blood-stable but enzyme-cleavable linker, which breaks to release its payload when selectively taken up by SLITRK6-expressing cells. Agensys has already filed a US IND to begin clinical trials.
Any ADC programs to which Seattle Genetics does not opt in as part of the wider alliance will be developed and commercialized solely by Agensys, with Seattle Genetics entitled to fees, milestones and mid-single digit royalties on worldwide net sales relating to the use of its technology.