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Seattle Genetics Will Get Undisclosed Milestone Payments

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Seattle Genetics, Inc. (NASDAQ: SGEN) announced today that it will receive undisclosed milestone payments under its antibody-drug conjugate (ADC) collaboration with Genentech, a member of the Roche Group (SWX:RO) (SWX:ROG) (OTC: RHHBY). The milestones were triggered by Genentech's advancement of two ADCs utilizing Seattle Genetics technology into phase II clinical development. The phase II randomized, open-label study is designed to evaluate the safety and efficacy of ADCs anti-CD22 (DCDT2980S, RG7593) and DCDS4501A (RG7596) each in combination with Rituxan® (rituximab) in patients with relapsed or refractory follicular non-Hodgkin lymphoma and relapsed or refractory diffuse large B-cell lymphoma.

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