PharmaMar signs licensing agreement with Seattle Genetics
Seattle Genetics obtains exclusive rights to certain proprietary PharmaMar's molecules for SDCs commercialization
PharmaMar forays into an exclusive licensing agreement with Seattle Genetics ensuring access to certain PharmaMar proprietary molecules for the development and commercialization of anti-body drug conjugates namely ADCs as well as other drug conjugates.
As per the agreement enumerated, PharmaMar receives an upfront payment of 5,000,000 US dollars on signing, followed by development milestones if a product enters clinical development conducted by Seattle Genetics. PharmaMar has a Marine Payloads unit. These are new, structurally diverse molecules with novel mechanisms of action that provide a unique opportunity to develop next generation ADCs. These payloads are highly potent, with sub-nanomolar cytotoxic activity.
As Luis Mora, Managing Director of PharmaMar´s Oncology Business Unit, stated, “We are glad to sign this license agreement with Seattle Genetics, a pioneer and leading company in the ADC market, because it allows us to work together in these cutting-edge cancer treatments.”