Seattle Genetics, Unum Therapeutics to Develop Cancer Immunotherapy

   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 [e-mail]

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