Roche drops third partnership deal
This article was originally published in Scrip
Roche subsidiary Genentech has terminated a collaboration with Seattle Genetics for dacetuzumab (SGN-40), a monoclonal antibody targeting CD40 which is in Phase Ib testing for the treatment of non-Hodgkin's lymphoma and multiple myeloma.
This is the third development deal that Roche has ended in recent days. The other two were with Actelion for the development of the oral sphingosine-1-phosphate receptor 1 agonist ACT-128800 for psoriasis and relapsing-remitting multiple sclerosis (scripnews.com, December 10th, 2009) and with Genmab for the insulin-like growth factor-1 receptor inhibitor RG1507 for various cancers (scripnews.com, December 8th, 2009). Both were Phase II programmes.
Seattle Genetics pocketed $60 million up front when it first signed the deal at the start of 2007, which gave Genentech exclusive worldwide rights to dacetuzumab.
The decision to end the agreement, which sees it wave goodbye to around $800 million in milestone payments, was a result of Genentech's ongoing portfolio review process, according to Seattle Genetics.
"We will evaluate available data as we consider possible next steps for the dacetuzumab programme," said chief executive Dr Clay Siegall. "We remain focused on advancing our lead product candidate, brentuximab vedotin (SGN-35), which we are positioning for a potential new drug application in 2011, as well as multiple other clinical and preclinical programmes in our portfolio."
Under the terms of the dacetuzumab collaboration agreement, the effective date of the termination will be 180 days from the date of notification (June 8th next year), at which time all rights to dacetuzumab will be returned to Seattle Genetics.
Seattle Genetics' antibody-drug conjugate collaboration with Genentech is unaffected by this termination.