Genentech and Seattle Genetics, Inc. have entered into an exclusive worldwide license agreement for the development and commercialization of SGN-40, a humanized monoclonal antibody currently in Phase I and II trials for multiple myeloma, chronic lymphocytic leukemia and non-Hodgkin’s lymphoma. Under the terms of the agreement, Seattle Genetics will receive an upfront payment of $60 million, potential milestone payments exceeding $800 million and royalties on sales of SGN-40. The miles...