Five Prime Therapeutics Licenses Antibodies to Seattle Genetics for Use in Novel Antibody Drug Conjugate (ADC) Programs
FIVE PRIME THERAPEUTICS (FPRX)
Last five prime therapeutics earnings: 2/27 04:05 pm
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Source: Business Wire
Five Prime receives $5 million upfront payment and is eligible to receive up to a combined total of $525 million in future milestone payments for the first two ADC product candidates SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Five Prime Therapeutics, Inc. (NASDAQ: FPRX), a clinical-stage biotechnology company focused on developing immune modulators and precision therapies for solid tumor cancers, today announced a global license agreement with Seattle Genetics, Inc. to develop and commercialize novel antibody-drug conjugate (ADC) therapies using monoclonal antibodies developed by Five Prime. ADCs harness the targeting ability of antibodies to deliver cell-killing agents directly to cancer cells.Under the terms of the agreement, Five Prime granted Seattle Genetics an exclusive worldwide license to a family of monoclonal antibodies that are directed to a single target and Seattle Genetics will be responsible for research, development, manufacturing and commercialization of ADC pro
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