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Seattle Genetics Responds To Daiichi Sankyo's Declaratory Judgment Complaint

(RTTNews) - Seattle Genetics, Inc. (SGEN) on Tuesday issued a response to Daiichi Sankyo's filing of a Declaratory Judgment action alleging Seattle Genetics is not entitled to intellectual property rights under their collaboration for the development of antibody-drug conjugates or ADCs.

Seattle Genetics noted that, under the agreement entered into between the two parties in 2008, the ADC technology used in Daiichi Sankyo's metastatic breast cancer drug candidate (DS-8201, [Fam-] trastuzumab deruxtecan) among other product candidates, rightfully belongs to Seattle Genetics.

"The linker and other ADC technology used in these drug candidates are improvements to Seattle Genetics' pioneering ADC technology, the ownership of which are automatically assigned to Seattle Genetics under the terms of the agreement," the company noted.

Seattle Genetics said it has been abiding by the dispute resolution provisions under the agreement to pursue its legal rights. By filing this lawsuit, Daiichi Sankyo has circumvented the process underway between the parties pursuant to these provisions.

Seattle Genetics said it would protect intellectual property rights as it continues to find revolutionary new treatments for cancer patients.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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