BOSTON (Thomson Financial) - Seattle Genetics Inc. Friday said it initiated
a phase IIb clinical trial of SGN-40 in combination with Rituxan and
chemotherapy for patients with relapsed or refractory diffuse large B-cell
lymphoma.
Under the terms of a collaboration agreement with Genentech Inc. for the
development and commercialization of SGN-40, Seattle Genetics said it will
receive a $12 million milestone payment for initiating the study.
Seattle Genetics already has received an upfront payment of $60 million in
February, and said it has the potential to receive milestone payments exceeding
$800 million.
Shares of Seattle Genetics, a Bothell, Wash.-based biotechnology company,
closed Thursday at $12.69.
Casey Logan
cl/jw
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