Seattle Genetics, Inc. has achieved a milestone under its antibody-drug conjugate (ADC) collaboration agreement with Genentech, triggering an undisclosed payment to Seattle Genetics. The milestone is based on Genentech's continued progress in preclinical development with an ADC utilizing Seattle Genetics' technology.

"We believe our ADC technology is contributing significantly to advancing the field of antibody-based therapeutics," stated Clay B. Siegall, president and CEO of Seattle Genetics. "We are pleased that Genentech is utilizing our ADC technology, and we look forward to continued collaboration towards developing a variety of targeted therapies," Siegall.

Seattle Genetics' second generation ADC technology utilizes the targeting ability of monoclonal antibodies to deliver potent, cell-killing payloads to specific cells. This ADC technology employs synthetic, highly potent drugs that can be attached to antibodies through proprietary linker systems. The linkers are designed to be stable in the bloodstream but to release the drug payload under specific conditions once inside target cells, potentially sparing non-target cells many of the toxic effects of traditional chemotherapy. By linking drug payloads to monoclonal antibodies, ADCs can increase the cell-killing activity of antibodies that have inherent cell targeting ability.

Seattle Genetics discovers and develops monoclonal antibody-based therapeutics to treat cancer and other human diseases.