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Seattle Genetics Signs Development and Manufacturing Agreement with ICOS
November 9, 2000 at 12:00 AM EST
Bothell, WA - November 9, 2000 – Seattle Genetics, Inc. announced today that it has signed a development and manufacturing agreement with ICOS Corporation (Nasdaq:ICOS).
Under the terms of the agreement, ICOS will conduct development, scale-up and manufacturing in its cell culture manufacturing facility to provide qualified, GMP grade product for clinical testing. The drug candidate being developed is a monoclonal antibody for cancer therapy. Seattle Genetics retains the rights to commercialize the product. Terms of the agreement were not disclosed. “We are very pleased to have a close working relationship with ICOS,” stated H. Perry Fell, Ph.D., Chief Executive Officer EO of Seattle Genetics. “This agreement exemplifies our commitment to develop drug candidates for cancer patients.”
Seattle Genetics, Inc. is a privately held biotechnology company focused on developing novel therapeutics to enhance the survival of cancer patients. The Company’s research and development initiatives use monoclonal antibody-based therapeutics encompassing four technology platforms: single-chain immunotoxins (SCIT), antibody-drug conjugates (ADC), monoclonal antibodies (mAbs), and antibody-directed enzyme prodrug therapy (ADEPT). Seattle Genetics has two drugs (SGN-15 and SGN-10) currently in four clinical trials, two in late-stage development and several lead agents undergoing preclinical testing. SGN-15, the Company’s lead ADC drug candidate, recently entered phase II trials in combination with Taxotere® for patients with breast and colorectal carcinoma. One of the late-stage development drug candidates, SGN-14, is being developed through an alliance with Genentech, Inc.