Print
Email
Print Edition Stories
Biotech ImmunoGen Inc. has earned a $2 million milestone payment from Bayer HealthCare Pharmaceuticals in the wake of Bayer submitting an Investigational New Drug application based on ImmunoGen’s Targeted Antibody Payload (TAP) technology.
The IND submission is for Bayer’s BAY 94-9343, which is under development under an agreement with ImmunoGen that grants Bayer exclusive rights to use the Waltham company’s maytansinoid TAP technology to develop anticancer therapeutics that target mesothelin.
Under the agreement signed in 2008, ImmunoGen is entitled to receive milestone payments potentially totaling up to $170.5 million for each resulting product plus royalties on sales.
Daniel Junius, ImmunoGen president and CEO, noted that in addition to BAY 94-9343, the company expects to have five other TAP compounds advance into clinical testing in the next 12 months, two wholly owned by ImmunoGen and three through collaborations with other companies.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
RSS Feeds
