Focusing on Clinical Development
Seattle Genetics is a clinical stage biotechnology company advancing a broad product pipeline of antibody-based therapies. Our lead program, brentuximab vedotin (SGN-35), is in a pivotal trial under a Special Protocol Assessment with the FDA for patients with relapsed or refractory Hodgkin lymphoma. Brentuximab vedotin is empowered by Seattle Genetics' proprietary antibody-drug conjugate (ADC) technology. In December 2009, we entered into an agreement with Millennium: The Takeda Oncology Company under which Seattle Genetics retains full commercialization rights to brentuximab vedotin in the United States and Canada, while Millennium obtained rights to commercialize the product candidate in all other countries.

In addition to brentuximab vedotin, Seattle Genetics is conducting clinical trials with four other product candidates, lintuzumab (SGN-33), dacetuzumab (SGN-40) and SGN-75, for the treatment of cancer, and SGN-70, for autoimmune diseases. We are also advancing a pipeline of promising preclinical candidates and have robust research and development capabilities that are our engine for innovation and long-term growth.

Our proprietary ADC technology empowers antibodies by stably linking them to cell-killing drug payloads. The drug payload is inactive until released from the antibody inside the targeted cancer cell, thereby sparing normal tissue the toxicity of traditional chemotherapy. In addition to brentuximab vedotin, SGN-75 is an ADC that is in a phase I clinical trial and we are developing several preclinical ADC product candidates, including ASG-5ME, which is advancing towards planned 2010 clinical trials for solid tumors.

Expanding Our Opportunities Through Collaboration
Collaborating with leading biopharmaceutical companies is a cornerstone of Seattle Genetics' business strategy. Product-focused collaborations, such as our collaboration agreement with Millennium: The Takeda Oncology Company to globally develop and commercialize brentuximab vedotin, provide significant near- and mid-term funding while bringing in additional resources and expertise to support, advance and expand promising development programs. Collaboration and license agreements around our proprietary ADC technology also generate cash for the company - more than $100 million to date - while providing further clinical validation of the ADC platform and, in some cases, opening the door to new product development opportunities.