Country for PR: United Kingdom
Contributor: PR Newswire Europe
Thursday, February 15 2018 - 00:35
AsiaNet
PharmaMar Licenses Fully Synthetic Marine-derived Payloads to Seattle Genetics for Use in Drug Conjugates
MADRID, Feb. 15, 2018 /PRNewswire-AsiaNet/ --

    PharmaMar (MCE: PHM) has announced today the  signing of an exclusive 
licensing agreement with Seattle Genetics Inc. (SGEN: NASDAQ GS) under which 
Seattle Genetics receives exclusive worldwide rights to certain PharmaMar 
proprietary molecules for the development, manufacture and commercialization of 
antibody-drug conjugates (ADCs) and/or other drug conjugates incorporating 
PharmaMar payloads.

    (Logo: http://mma.prnewswire.com/media/624563/PharmaMar_Logo.jpg )

    According to the terms of the agreement, PharmaMar receives an upfront 
payment of 5,000,000 US dollars on signing, followed by development milestones 
if a product enters clinical development conducted by Seattle Genetics. In 
addition, PharmaMar is eligible for potential approval and sales milestones as 
well as royalties, once a product receives regulatory approval and is 
commercialized.

    PharmaMar has a Marine Payloads unit. These are new, structurally diverse 
molecules with novel mechanisms of action that provide a unique opportunity to 
develop next generation ADCs. These payloads are highly potent, with 
sub-nanomolar cytotoxic activity. ADCs are targeted cancer treatments designed 
to harness the specificity of antibodies to deliver cell-killing agents 
directly to cancer cells.

    As Luis Mora, Managing Director of PharmaMar's Oncology Business Unit, 
stated "We are glad to sign this license agreement with Seattle Genetics, a 
pioneer and leading company in the ADC market, because it allows us to work 
together in these cutting-edge cancer treatments."

    The payloads department at PharmaMar is new, placing the company as a 
supplier of cytotoxic products, necessary for all companies working within the 
field of ADCs.

    About Seattle Genetics Inc.  

    Seattle Genetics Inc is a biotechnology company that develops and 
commercializes monoclonal antibody-based therapies for the treatment of cancer. 
Seattle Genetics is headquartered in Bothell, Washington (US) 
http://www.seattlegenetics.com.

    About PharmaMar  

    Headquartered in Madrid, PharmaMar is a world-leading biopharmaceutical 
company in the discovery and development of innovative marine-derived 
anticancer drugs. The company has a pipeline of drug candidates and a robust 
R&D oncology program. PharmaMar develops and commercializes YONDELIS(R) in 
Europe and has three other clinical-stage programs under development for 
several types of solid and hematological cancers, lurbinectedin, plitidepsin, 
PM184 and PM14. PharmaMar is a global biopharmaceutical company with 
subsidiaries in Germany, Italy, France, Switzerland, United Kingdom, To learn 
more about PharmaMar, please visit us at http://www.pharmamar.com.

    Contact details: Media Relations (+34-638-79-62-15) and Investor Relations
(+34-914444500)


Source: PharmaMar 
Translations

Japanese