Celera Genomics & Seattle Genetics Announce Collaboration to Co-Develop Targeted Antibody Therapies for Cancer
Rockville, MD and Bothell, WA - July 21, 2004
Celera Genomics Group (NYSE:CRA), an Applera Corporation business, and Seattle Genetics, Inc. (NASDAQ: SGEN) today announced that they have formed a strategic collaboration to jointly discover and develop antibody-based therapies for cancer. Products developed under the collaboration may include either monoclonal antibodies or antibodies linked to potent cell-killing payloads utilizing Seattle Genetics’ antibody-drug-conjugate (ADC) technology.
Under the terms of the multi-year agreement, Celera Genomics and Seattle Genetics will jointly designate a number of cell-surface proteins discovered and validated through Celera Genomics’ proprietary proteomic platform as antigen targets. Seattle Genetics will carry out initial screening to generate and select the appropriate corresponding antibodies or ADCs for joint development and commercialization. Celera Genomics and Seattle Genetics will co-fund preclinical and clinical product development and will share any profits resulting from collaboration products. Either party may opt out of co-development of a particular product and receive royalties on net sales. Celera Genomics will also pay progress-dependent commercialization milestones to Seattle Genetics for any co-developed ADCs. Other terms of the agreement were not disclosed.
“Seattle Genetics possesses the strong combination of proprietary technology and practical experience we have been seeking in an antibody co-development partner,” said Kathy Ordoñez, President, Celera Genomics. “We believe a number of the differentially-expressed cell-surface proteins identified through Celera’s proteomics research can be effectively targeted with antibodies or ADCs derived from Seattle Genetics’ technology. In addition to major ADC collaborations and licenses, Seattle Genetics has itself demonstrated the potential of this technology by advancing multiple ADC compounds into development.”
“Celera Genomics has a large portfolio of high quality, validated targets, which is a unique and valuable asset,” stated Clay B. Siegall, Ph.D., President and Chief Executive Officer at Seattle Genetics. “This alliance provides a range of opportunities to develop therapeutics against these targets by utilizing Seattle Genetics’ expertise in antibody technologies, including our industry-leading ADC technology. The complementary strengths of the two companies make this an ideal product development collaboration.”
Celera Genomics will contribute a subset of the cell surface antigens that it has identified and validated from its ongoing proteomic studies to the alliance. Celera Genomics has been studying four cancers that present some of the greatest unmet medical needs facing our healthcare system: pancreatic, lung, colon and breast cancer. Seattle Genetics brings to the collaboration considerable expertise in antibody-based drug development, including both monoclonal antibodies and ADCs. Seattle Genetics has developed leading edge ADC technology employing synthetic, highly potent drugs that can be attached to antibodies through proprietary linker systems. The linkers are stable in the bloodstream and release the drug payload once inside target tumor cells. ADCs can increase the therapeutic potential of the many antibodies with targeting ability but limited or no inherent cell-killing activity. ADCs in Seattle Genetics’ product pipeline include its phase II ADC SGN-15 for lung cancer and its preclinical ADCs SGN-35 and SGN-75.
About Applera Corporation and Celera Genomics
Applera Corporation consists of two operating groups. The Celera Genomics Group, located in Rockville, MD, and South San Francisco, CA, is engaged principally in integrating advanced technologies to discover and develop new therapeutics. Celera intends to leverage its proteomic, bioinformatic, and genomic capabilities to identify and validate drug targets, and to discover and develop new therapeutics. Its Celera Discovery SystemTM online platform, marketed exclusively by Applied Biosystems, is an integrated source of information based on the human genome and other biological and medical sources. The Applied Biosystems Group (NYSE: ABI) serves the life science industry and research community by developing and marketing instrument-based systems, consumables, software, and services. Applied Biosystems is headquartered in Foster City, CA, and reported sales of $1.7 billion during fiscal 2003. Celera Diagnostics, a 50/50 joint venture between Applied Biosystems and Celera Genomics, is focused on discovery, development, and commercialization of novel diagnostic products. Information about Applera Corporation, including reports and other information filed by the company with the Securities and Exchange Commission, is available at www.applera.com, or by telephoning 800.762.6923. Information about Celera Genomics is available at www.celera.com.
About Seattle Genetics
Seattle Genetics discovers and develops monoclonal antibody-based therapeutics to treat cancer and other human diseases. The company has built a diverse portfolio of product candidates targeted to many types of cancer, including three being tested in multiple ongoing clinical trials, SGN-30, SGN-15 and SGN-40, and three in preclinical development, SGN-35, SGN-75 and SGN-17/19. The product candidates encompass three platform technologies: genetically engineered monoclonal antibodies, antibody-drug conjugates (ADCs) and antibody-directed enzyme prodrug therapy (ADEPT). Seattle Genetics has developed leading ADC technology comprised of highly potent synthetic drugs and stable linkers for attaching the drugs to monoclonal antibodies. The company currently has license agreements for its ADC technology with Genentech, Celltech Group, Protein Design Labs and CuraGen and for its ADEPT technology with Genencor International. More information about Seattle Genetics can be found at www.seattlegenetics.com.
For Celera Genomics:
Certain statements in this press release are forward-looking. These may be identified by the use of forward-looking words or phrases such as “believe,” “expect,” “intend,” “anticipate,” “should,” “planned,” and “potential,” among others. The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for such forward-looking statements. In order to comply with the terms of the safe harbor, Applera Corporation notes that a variety of factors could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. The risks and uncertainties include but are not limited to: (1) unproven ability of Celera Genomics and Seattle Genetics to successfully manage and operate the collaboration; (2) uncertain suitability of cell surface proteins discovered by Celera Genomics as targets for therapeutic antibodies; (3) the risk that products developed under this collaboration if any, will not advance as anticipated, or may not receive required regulatory clearances or approvals; (4) the uncertainty that collaboration products will be accepted and adopted by the market, including the risk that that these products will not be competitive with products offered by other companies, or that users will not be entitled to receive adequate reimbursement for these products from third party payors such as private insurance companies and government insurance plans; and (5) other factors that might be described from time to time in Applera Corporation’s filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and Applera does not undertake any duty to update this information, including any forward-looking statements, unless required by law.
For Seattle Genetics:
Certain of the statements made in this press release are forward-looking. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Specifically, the statements regarding the potential benefits of the combination of Seattle Genetics' and Celera Genomics’ technologies are forward-looking and actual results may differ materially from these statements for various reasons. Factors that may cause such a difference include difficulties in implementing the combined technologies of Seattle Genetics and its partners, risks related to adverse clinical results as our product candidates move into and advance in clinical trials, risks inherent in early stage development and failure by Seattle Genetics to secure collaborators or failure of those collaborators to perform their contractual obligations. More information about the risks and uncertainties faced by Seattle Genetics is contained in the Company's filings with the Securities and Exchange Commission. Seattle Genetics disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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