Takeda and ImmunoGen, a biotechnology company that develops targeted anticancer therapeutics using its state-of-the-art antibody-drug conjugate (ADC) technology, announced that Takeda has licensed exclusive rights to use ImmunoGen’s ADC technology – including ImmunoGen’s new DNA-acting IGN payload agents – to develop and commercialize targeted anticancer therapeutics to up to two undisclosed targets. The agreement also provides Takeda with the option to take a license for a third target for an additional upfront fee.
ImmunoGen will receive $20 million upfront and – for each target – is eligible to receive milestone payments potentially totaling up to $210 million plus royalties on the commercial net sales of any resulting ADC products. Takeda is responsible for the development, manufacturing and marketing of any ADC products resulting from this agreement.
“Takeda shares our commitment to developing novel anticancer therapies that meaningfully improve the lives of patients, and we look forward to collaborating with them to create important new ADC product candidates,” commented Daniel Junius, ImmunoGen President and CEO.
“ADC technology is a critically important tool in addressing unmet needs in oncology,” said Christopher Claiborne, Ph.D., Head of the Oncology Drug Discovery Unit at Takeda. “By partnering with ImmunoGen, we are able to leverage this important technology in Takeda’s R&D program and bring novel agents through the clinic.”
Takeda signed an agreement with ImmunoGen through its wholly owned subsidiary, Millennium Pharmaceuticals Inc.
ImmunoGen is not updating its guidance for its 2015 fiscal year at this time.
Filed Under: Drug Discovery