By Chelsey Dulaney
Seattle Genetics Inc. (SGEN) is partnering with startup Unum
Therapeutics to develop and commercialize an immunotherapy drug
that could potentially be used to treat a wide range of
cancers.
The partnership will pair Seattle Genetics' antibodies with
Unum's novel therapy that uses a patient's T-cells to attack
tumors. The companies will develop at least two products, with the
option to expand the collaboration for a third product.
Immunotherapies are designed to unleash the body's own immune
system against cancer and have been significantly prolonging the
lives of some people with hard-to-treat forms of the deadly
disease.
Enthusiasm has been growing among cancer doctors that
immunotherapies could usher in a major advance in treatment for a
range of cancers including those of the lung, bladder and
kidney.
While a range of pharmaceutical companies--from Bristol-Myers
Squibb Co. (BMY) to Merck & Co. (MRK)--have been developing
immunotherapies, Unum wants to develop a universal cellular
immunotherapy that could be applicable for a range of cancers.
Under the terms of the agreement, Seattle Genetics will pay Unum
$25 million upfront and make a $5 million investment in Unum's next
private financing round. Unum has the potential to receive up to
$615 million in option fees and milestone payments.
Seattle Genetics plans to update its guidance for the year to
account for the partnership when it reports second-quarter results
in July.
Write to Chelsey Dulaney at chelsey.dulaney@wsj.com
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