Seattle Genetics To Receive $30 Mln Milestone Payment From Takeda - Quick Facts

(RTTNews) - Seattle Genetics, Inc. (SGEN) announced that its collaborator, Takeda Pharmaceutical Company Limited, received approval from the European Commission to extend the marketing authorization for ADCETRIS (brentuximab vedotin) to include ADCETRIS in combination with AVD (Adriamycin, vinblastine and dacarbazine) in adults patients with previously untreated CD30+ stage IV classical Hodgkin lymphoma. Seattle Genetics will receive a milestone payment from Takeda of $30 million for the European Commission approval.

Clay Siegall, CEO at Seattle Genetics, said: "We look forward to continuing our work with Takeda to establish ADCETRIS as the global foundation of care for CD30-expressing lymphomas, including Hodgkin lymphoma."