Originally published December 11, 2009 at 7:20 AM | Page modified December 11, 2009 at 10:31 AM
Comments (0)
E-mail article
Print
Share
Biotech giant drops Seattle Genetics drug program
Biotech powerhouse Genentech will terminate a collaboration deal that paid Seattle Genetics $60 million and could have yielded over $800 million more in future years.
The 2007 collaboration agreement covered development and commercialization of dacetuzumab, a monoclonal antibody for potential treatment of non-Hodgkin lymphoma and multiple myeloma. The partnership will terminate in 180 days, said Bothell-based Seattle Genetics.
CEO Clay Siegall said in a statement the company hasn't yet decided how to proceed with dacetuzumab. He said Seattle Genetics will "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 programs in our portfolio.
Seattle Genetics shares were down 23 cents, or 2.6 percent, to $8.75 in early trading.
UPDATE - 09:46 AM
Exxon Mobil wins ruling in Alaska oil spill case
UPDATE - 09:32 AM
Bank stocks push indexes higher; oil prices dip
UPDATE - 08:04 AM
Ford CEO Mulally gets $56.5M in stock award
UPDATE - 07:54 AM
Underwater mortgages rise as home prices fall
NEW - 09:43 AM
Warner Bros. to offer movie rentals on Facebook
More Business & Technology headlines...
Rescue of 13-year-old boy at Wallace Falls
Museum officials discuss King Tut exhibit installation
Kayak surfing
Male song birds
Newly hired Seattle schools superintendent Jose Banda
Inmates work with abandoned felines
May Day raw video: Protesters march along Jackson
May Day raw video: Rally at Marion St. and 2nd Ave
May Day raw video: Police attempt to clear downtown intersection
Entertainment | Top Video | World | Offbeat Video | Sci-Tech
general classifieds
Garage & estate salesFurniture & home furnishings
Electronics
just listed
2001 SeaRay 380DA
AKC Cavalier King Charles Spaniel-Sheeba Li...
AKC Chocolate Labrador Puppies
More listings
POST A FREE LISTING
- Madrona dad killed by a bullet as he drove through Central Area
- Matt Flynn has good day in Seahawks' 3-way QB competition
- Why dealing for Kellen Winslow makes sense for Seahawks | Steve Kelley
- Facebook messages trigger melee at Whitman Middle School
- Komen controversy hurting Race for the Cure
- Driver fatally shot in Central Area
- Opponents of gay-marriage law get unexpected aid: from Muslims
- Ex-boyfriend sought in death of Renton girl, 17
- It's been great; see you soon in my new columns | Nicole Brodeur
- Fatal south Seattle shooting suspect now in jail
- Opponents of gay-marriage law say they have enough signatures 861
- Mariners look to get back on winning track against Angels 473
- Madrona dad killed by stray bullet as he drove through Central Area 265
- Komen controversy hurting Race for the Cure 216
- Typical CEO made $9.6M last year, AP study finds 149
- Sources: DOJ sends letters to city blasting police reform efforts 138
- Fact check: Ad exaggerates Obama's debt 96
- Driver caught in crossfire, fatally shot in Central Area 89
- It's been great; see you soon in my new columns 71
- The Seattle area's scandalous lack of adequate transit capacity 66
- Madrona dad killed by a bullet as he drove through Central Area
- Dig into colorful history at Oregon's John Day Fossil Beds
- Get a sitter — please — for these 10 great date-night restaurants | All You Can Eat
- SPU surprises neighbors with sale of Queen Anne rec property
- Beer-drinking bridge builders will get training from a counselor
- Zumiez rebounds from recession better than most
- Boy's pat on president's head captured for history
- Driver fatally shot in Central Area
- Downtown building fetches $55M, thanks to Amazon effect
- Gates Foundation grants give local groups a boost
