Seattle Genetics Achieves Milestone Payment Under Antibody-Drug Conjugate Collaboration with GlaxoSmithKline Triggered by BLENREP (belantamab mafodotin-blmf) FDA Approval

BOTHELL, Wash.--(BUSINESS WIRE)--Seattle Genetics, Inc. (Nasdaq:SGEN) today announced U.S. Food and Drug Administration (FDA) approval of GlaxoSmithKline’s (GSK) BLENREP™ (belantamab mafodotin-blmf), an antibody-drug conjugate (ADC) targeting B-cell maturation antigen (BCMA) that utilizes Seattle Genetics’ proprietary technology. BLENREP was developed and will be commercialized by GSK. The approval triggers a $20 million milestone payment and entitles Seattle Genetics to royalties on BLENREP pr