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ImmunoGen Inc. will receive up to $35 million, plus royalties, from Thousand Oaks, Calif.-based Amgen Inc. in an exclusive deal to license Immunogen technology. The deal includes $1 million in upfront payments and $34 million in milestone payments, plus royalties on the sales of any resulting products.
Amgen will use the so-called targeted antibody payload technology to develop anti-cancer therapeutics to an undisclosed target found on solid tumors.
Daniel Junius, ImmunoGen president and CEO, commented, “Amgen has an established track record of success in oncology and an expanding presence in antibody-based therapeutics. Amgen’s interest in antibody-drug conjugates is good for the field.”
This license was taken under an agreement established in 2000 between ImmunoGen and Abgenix, Inc., which later was acquired by Amgen. Amgen is responsible for the development, manufacturing, and marketing of any products resulting from this license.
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