Seattle Genetics Submits Arbitration Demand Against Daiichi Sankyo Over Technology Ownership

Seattle Genetics, Inc. (NASDAQ:SGEN) today announced that it has submitted an arbitration demand to the American Arbitration Association to resolve its dispute with Daiichi Sankyo Co. Ltd. regarding the ownership of

Benzinga · 11/12/2019 22:17

Seattle Genetics, Inc. (NASDAQ:SGEN) today announced that it has submitted an arbitration demand to the American Arbitration Association to resolve its dispute with Daiichi Sankyo Co. Ltd. regarding the ownership of certain technology used by Daiichi Sankyo in its metastatic breast cancer drug candidate (DS-8201, [Fam-] trastuzumab deruxtecan), among other product candidates. Seattle Genetics contends that the linker and other ADC technology used in these drug candidates are improvements to Seattle Genetics’ pioneering ADC technology, the ownership of which was assigned to Seattle Genetics under the terms of a 2008 collaboration agreement between the two companies.

Seattle Genetics has been abiding by the agreement’s dispute resolution provisions. Last week, Daiichi Sankyo attempted to circumvent the dispute resolution process underway between the parties by filing a declaratory judgment action in the United States District Court for the District of Delaware. Seattle Genetics’ demand is intended to place the dispute in arbitration in Seattle, Washington, where it belongs under the agreement.

Seattle Genetics is committed to protecting the company’s intellectual property rights as it continues to find revolutionary new treatments for cancer patients.