Policy & Regulation
Seattle Genetics collaborates with Pieris Pharmaceuticals
13 February 2018 -

Seattle Genetics, a biotechnology company, has collaborated with United States-based Pieris Pharmaceuticals.

It was reported yesterday that the collaboration is aimed at developing multiple targeted bispecific immuno-oncology treatments for solid tumours and blood cancers. The collaboration and license agreement will see both firms assess novel bispecific immuno-oncology agents that integrate Pieris' anticalin technology with select Seattle Genetics cancer-targeted antibodies. The firms will combine their expertise and core technologies for the development of novel antibody-anticalin fusion proteins.

According to the terms of the deal, Pieris will secure USD30m upfront fee and tiered royalties on net sales up to low double-digits from Seattle Genetics. Pieris is also eligible to receive up to USD1.2bn total success-based payments across three product candidates. Both companies will work on multiple antibody-anticalin fusion proteins during the research phase, and Seattle Genetics will be provided with an option to select up to three therapeutic programs for further development.

Before the initiation of the second pivotal trial, Pieris can involve in the global co-development and US commercialisation of the second program. The global costs and profits will be shared on a 50/50 basis. Seattle Genetics will alone develop, fund and commercialise the other two programs.