Seattle Genetics, Inc. (Nasdaq: SGEN) today reported that it has been
notified by Genentech, a wholly owned member of the Roche Group (SIX:
RO, ROG; OTCQX: RHHBY), that Genentech has elected to terminate the
companies’ collaboration agreement for dacetuzumab (SGN-40). Dacetuzumab
is a monoclonal antibody targeting CD40 that has been investigated in
clinical trials for non-Hodgkin lymphoma and multiple myeloma. The
decision is a result of Genentech’s ongoing portfolio review process.
“We will evaluate available data as we consider possible next steps for
the dacetuzumab program,” said Clay B. Siegall, Ph.D., President and
Chief Executive Officer of Seattle Genetics. “We 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
Under the terms of the dacetuzumab collaboration agreement, the
effective date of the termination will be 180 days from the date of
notification, or June 8, 2010, at which time all rights to dacetuzumab
will be returned to Seattle Genetics. Genentech will remain responsible
for funding development costs associated with completing all ongoing
clinical trials for dacetuzumab as of the effective date of termination.
Dacetuzumab is currently being evaluated in four ongoing phase Ib
clinical trials in combination with standard regimens for patients with
relapsed or refractory non-Hodgkin lymphoma and multiple myeloma.
Seattle Genetics’ antibody-drug conjugate (ADC) collaboration with
Genentech is unaffected by this termination.