$6 Million in Milestone Payments Triggered by Achieving First Commercial Sales of ADCETRIS in Australia, South Korea and Mexico for Relapsed or Refractory Hodgkin Lymphoma and Systemic Anaplastic Large Cell Lymphoma
April 8, 2014
Seattle Genetics, Inc. today announced that it will receive milestone payments from Takeda Pharmaceutical Company Limited (Takeda) totaling $6 million as a result of achieving the first commercial sale of ADCETRIS (brentuximab vedotin) in three key countries in Takeda’s territories outside of the European Union and Japan, consisting of Australia, South Korea and Mexico. All three countries have permission to sell commercial product from their local health authority for the treatment of patients with relapsed or refractory CD30-positive Hodgkin lymphoma (HL) and systemic anaplastic large cell lymphoma (sALCL). In addition to these three countries, ADCETRIS is also commercially available in the U.S., European Union, Japan,Canada, Ukraine, Switzerland, Singapore, Norway, Liechtenstein and Iceland. ADCETRIS is an antibody-drug conjugate (ADC) directed to CD30, a defining marker of classical HL and known to be expressed in some types of non-Hodgkin lymphoma, including sALCL.
“We, along with our partner Takeda, have made great progress in making ADCETRIS available globally as a treatment for relapsed or refractory HL and ALCL, with it now commercially available in 40 countries,” said Clay B. Siegall, Ph.D., President and Chief Executive Officer of Seattle Genetics. “We remain focused on expanding patient access worldwide by supporting Takeda’s efforts to secure marketing approvals in their territories. In parallel, we are also broadly evaluating ADCETRIS as the foundation of therapy for CD30-positive malignancies through more than 30 ongoing clinical trials.”
Permission to sell commercial product in these key countries was based on data from two global pivotal phase 2 clinical trials of ADCETRIS for patients with relapsed or refractory CD30-positive HL and sALCL.
Seattle Genetics and Takeda are jointly developing ADCETRIS. Under the terms of the collaboration agreement,Seattle Genetics has U.S. and Canadian commercialization rights and Takeda has rights to commercialize ADCETRIS in the rest of the world. Seattle Genetics is entitled to royalties based on a percentage of Takeda’s net sales in its territory at rates that range from the mid-teens to the mid-twenties based on sales volume, subject to offsets for royalties paid by Takeda to third parties. In addition, Seattle Genetics is entitled to receive progress- and sales-dependent milestone payments based on net sales of ADCETRIS within Takeda’s licensed territories. Seattle Genetics and Takeda are also funding joint development costs for ADCETRIS on a 50:50 basis, except in Japan where Takeda is solely responsible for development costs.
ADCETRIS (brentuximab vedotin) is an ADC comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent, monomethyl auristatin E (MMAE), utilizing Seattle Genetics’ proprietary technology. The ADC employs a linker system that is designed to be stable in the bloodstream but to release MMAE upon internalization into CD30-expressing tumor cells.
ADCETRIS for intravenous injection received accelerated approval from the U.S. Food and Drug Administration (FDA) and approval with conditions from Health Canada for two indications: (1) the treatment of patients with HL after failure of autologous stem cell transplant (ASCT) or after failure of at least two prior multi-agent chemotherapy regimens in patients who are not ASCT candidates, and (2) the treatment of patients with sALCL after failure of at least one prior multi-agent chemotherapy regimen. The indications for ADCETRIS are based on response rate. There are no data available demonstrating improvement in patient-reported outcomes or survival with ADCETRIS.
ADCETRIS was granted conditional marketing authorization by the European Commission in October 2012 for two indications: (1) for the treatment of adult patients with relapsed or refractory CD30-positive HL following autologous stem cell transplant (ASCT), or following at least two prior therapies when ASCT or multi-agent chemotherapy is not a treatment option, and (2) the treatment of adult patients with relapsed or refractory sALCL. ADCETRIS has received marketing authorization by regulatory authorities in 40 countries. See important safety information below.
About Seattle Genetics
Seattle Genetics is a biotechnology company focused on the development and commercialization of innovative antibody-based therapies for the treatment of cancer. Seattle Genetics is leading the field in developing antibody-drug conjugates (ADCs), a technology designed to harness the targeting ability of antibodies to deliver cell-killing agents directly to cancer cells. The company’s lead product, ADCETRIS® (brentuximab vedotin), is an ADC that, in collaboration with Takeda Pharmaceutical Company Limited, is commercially available for two indications in 40 countries, including the U.S., Canada, Japan and members of the European Union. Additionally, ADCETRIS is being evaluated broadly in more than 30 ongoing clinical trials. Seattle Genetics is also advancing a robust pipeline of clinical-stage ADC programs, including SGN-CD19A, SGN-CD33A, SGN-LIV1A, ASG-22ME and ASG-15ME. Seattle Genetics has collaborations for its ADC technology with a number of leading biotechnology and pharmaceutical companies, including AbbVie, Agensys (an affiliate of Astellas), Bayer, Genentech, GlaxoSmithKline and Pfizer. More information can be found at www.seattlegenetics.com.