Waltham, MA-based ImmunoGen struck a deal to license its cancer drug development technology to biotech giant Amgen in a deal that could eventually be worth up to $35 million. Only a million dollars of that, though, is available upfront. Amgen gains the exclusive right to use ImmunoGen's maytansinoid Targeted Antibody Payload technology to develop anticancer therapeutics for an undisclosed target found on solid tumors.
"Amgen has an established track record of success in oncology and an expanding presence in antibody-based therapeutics," says ImmunoGen CEO Daniel Junius. "Amgen's interest in antibody-drug conjugates is good for the field, and we're pleased they've chosen to move forward with ImmunoGen's technology."
Amgen is responsible for the development, manufacturing, and marketing of any products resulting from this license.
- see Immunogen's release [1] for more info
Related Articles:
ImmunoGen looks for $39M in stock offering [2]
ImmunoGen pockets $6.5M milestone [3]
ImmunoGen surges on milestone trial achievement [4] (2007)
Links:
[1] http://www.fiercebiotech.com/press-releases/immunogen-announces-amgen-has-licensed-rights-use-companys-tap-technology-solid-tumor
[2] http://www.fiercebiotech.com/story/immunogen-looks-39m-stock-offering/2009-06-18
[3] http://www.fiercebiotech.com/story/immunogen-pockets-6-5m-milestone/2009-03-03
[4] http://www.fiercebiotech.com/story/immunogen-surges-milestone-trial-achievement/2007-08-01