Millennium developing lymphoma drug
Millennium Pharmaceuticals, a division of Takeda Pharmaceutical Co., of Japan, said it will develop and market a lymphoma drug with Seattle Genetics Inc.
Under the agreement, Cambridge-based Millennium, which manages Takeda’s oncology drug development, will make a $60 million upfront payment to Seattle Genetics and as much as $230 million in potential additional payments if the drug meets certain milestones.
Seattle Genetics, which is conducting late-stage clinical trials of the drug, will retain full commercialization rights in the United States and Canada, while Takeda gets exclusive rights to commercialize the drug in other countries.
The drug treats relapsed and refractory Hodgkin lymphoma and systemic anaplastic large cell lymphoma.
ROBERT WEISMAN
