Friday, November 20, 2009

Second license deal with Amgen to bring ImmunoGen another $35M

By Mass High Tech staff

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Waltham biotechnology firm ImmunoGen Inc. has announced a second license granted to Amgen Inc. for its maytansinoid Targeted Antibody Payload technology for an undisclosed target. The deal promises a $1 million upfront payment to ImmunoGen, with up to $34 million in milestone payments and additional royalties — the same agreement the company had with Amgen in September when it licensed the technology for a different undisclosed target.

ImmunoGen’s TAP technology relies on antibodies to deliver cell-killing agents to cancer targets.

As part of the agreement, Thousand Oaks, Calif.-based Amgen will be responsible for the development, manufacturing and marketing of any products related to the license.

This license was taken under an agreement established in 2000 between ImmunoGen (Nasdaq: IMGN) and Abgenix Inc., which later was acquired by Amgen.