| ALLIANCE | On February 18, 2005, Seattle Genetics, Inc. (the "Company") entered into an agreement with Abbott Laboratories ("Abbott") for manufacturing of the Company's SGN-40 monoclonal antibody product candidate (the "Abbott Agreement"). Under the terms of the Abbott Agreement, Abbott has agreed to perform scale-up and GMP manufacturing of SGN-40 to support clinical trials. In the future, Abbott has also agreed to manufacture commercial-grade material to support potential regulatory approval and commercial launch of SGN-40 if required. The Company's total costs through the end of 2005 of manufacturing SGN-40 with Abbott could be up to $3.24 million. The Abbott Agreement will be filed as an exhibit to the Company's quarterly report on Form 10-Q for the quarter ending March 31, 2005, with portions omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment. |
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