Brentuximab vedotin Collaboration
Seattle Genetics entered into a product collaboration with Millennium: The Takeda Oncology Company in December 2009 for the global development and commercialization of brentuximab vedotin (formerly known as SGN-35). Under the agreement, Seattle Genetics has rights to commercialize brentuximab vedotin in the United States and Canada. Millennium has exclusive rights to commercialize the product candidate in the rest of the world.

Seattle Genetics received an upfront payment of $60 million, and is eligible to receive progress-dependent milestone payments that could total more than $230 million and tiered double-digit royalties on sales of brentuximab vedotin within Millennium's licensed territories.

In August 2011, the U.S. Food and Drug Administration (FDA) granted accelerated approval to ADCETRIS (brentuximab vedotin).

In June 2011, the European Medicines Agency (EMA) accepted Millennium's Marketing Authorization Application (MAA) for brentuximab vedotin for the treatment of relapsed or refractory Hodgkin lymphoma and relapsed or refractory systemic anaplastic large cell lymphoma. This triggered a $5 million milestone payment to Seattle Genetics from Millennium.

Seattle Genetics and Millennium are funding joint worldwide development costs on a 50:50 basis, except in Japan where Millennium/Takeda is fully responsible for development costs.