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PharmaMar S.A.. (2/14/18). "Press Release: PharmaMar Licenses Fully Synthetic Marine-derived Payloads to Seattle Genetics for Use in Drug Conjugates". Madrid.

Region Region ALL
Organisations Organisation PharmaMar S.A. (MSE: PHM)
  Group PharmaMar (Group)
  Organisation 2 Seattle Genetics Inc. (Nasdaq: SGEN)
Products Product cancer drug
  Product 2 antibody-drug conjugate (ADC)
Person Person Mora, Luis (Zeltia 201208– Managing Director of newly founded Pharma Mar GmbH)
     


PharmaMar will receive an upfront payment of 5,000,000 US dollars, followed by development milestones if an antibody-drug conjugate enters clinical development


PharmaMar (MSE: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.

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). 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® 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, Belgium and the United States. PharmaMar fully owns other companies: GENOMICA, a leading molecular diagnostics company; Sylentis, dedicated to researching therapeutic applications of gene silencing
(RNAi); and two other chemical enterprises, Zelnova Zeltia and Xylazel. To learn more about PharmaMar, please visit us at www.pharmamar.com.


Disclaimer

This document is a press release, not a prospectus. This document does not constitute or form part of an offering or invitation to sell or a solicitation to purchase, offer or subscribe shares of the company. Moreover, no reliance should be placed upon this document for any investment decision or contract and it does not constitute a recommendation of any type with regard to the shares of the company.


Media Contact:
Alfonso Ortín – Communications Director aortin@pharmamar.com Mobile: + 34609493127 Paula Fernández – Media Relations Manager pfalarcon@pharmamar.com Mobile: +34 638796215 Phone: +34 918466000

Investor Relations:
Phone: +34 914444500

Or please visit our website at www.pharmamar.com

   
Record changed: 2018-02-23

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