Takeda enters deal worth over $290 million for rights to Seattle Genetics’ lymphoma drug

Takeda reported on Tuesday that it will develop and market Seattle Genetics’ investigational oncology compound brentuximab vedotin in an agreement worth over $290 million. According to the CEO of Takeda's Millennium unit, Deborah Dunsire, the deal could help expand the company's "reach in oncology throughout Europe and the rest of the world.”

Brentuximab vedotin is currently being investigated in late-stage studies for relapsed and refractory Hodgkin lymphoma, as well as systemic anaplastic large cell lymphoma. Results from a Phase II trial of the antibody in Hodgkin lymphoma are expected in the second half of 2010. The antibody-drug conjugate targeting CD30 has received orphan drug designation from regulators in the US and EU for both Hodgkin lymphoma and anaplastic large cell lymphoma, and has received fast track designation by the FDA for Hodgkin lymphoma.

Under the deal, Takeda will make an upfront payment of $60 million to Seattle Genetics for rights to the drug in all markets outside the US and Canada. Seattle Genetics is also entitled to receive milestone payments that could total more than $230 million, as well as royalties on sales of the antibody, if approved.

In recent news, Seattle Genetics reported that Roche's unit Genentech will terminate the companies’ joint development of the monoclonal antibody dacetuzumab for treating non-Hodgkin’s lymphoma and multiple myeloma.

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