Amgen Takes Third License for Rights to Use ImmunoGen’s TAP Technology
December 19 2012 - 5:30AM
Business Wire
ImmunoGen, Inc. (NASDAQ: IMGN), a
biotechnology company that develops anticancer therapeutics using
its Targeted Antibody Payload (TAP) technology and antibody
expertise, today announced that Amgen has licensed the exclusive
right to use the Company’s maytansinoid TAP technology to develop
anticancer therapeutics to a third target, which is undisclosed.
Amgen licensed rights for two other targets in 2009 and has two
compounds in clinical testing under those licenses.
“We’re pleased with the interest major healthcare companies are
showing in developing multiple product candidates with our TAP
technology,” commented Daniel Junius, President and CEO. “In recent
years, there has been a marked increase in the quantity of targets
considered to be potentially appropriate for TAP compounds, which
has expanded the opportunity for us and our partners.”
The licenses were taken under a 2000 agreement. For each
license, ImmunoGen receives a $1 million upfront payment and
is entitled to receive milestone payments potentially totaling
$34 million plus royalties on the sales of any resulting
products. Amgen is responsible for the development, manufacturing
and marketing of any products resulting from the license.
About ImmunoGen, Inc.
ImmunoGen, Inc. develops targeted anticancer therapeutics using
its TAP technology together with the Company’s expertise in
monoclonal antibodies and tumor biology. A TAP compound uses a
tumor-targeting monoclonal antibody to deliver one of ImmunoGen's
purpose-developed cancer-killing agents specifically to tumor
cells. Ten TAP compounds are now in clinical testing, of which
three are wholly owned by the Company. Marketing applications for
trastuzumab emtansine (T-DM1), the most advanced compound using
ImmunoGen's TAP technology, are under review in the US and Europe.
Roche is developing this compound globally under an agreement
between ImmunoGen and Genentech, a member of the Roche Group. More
information about ImmunoGen can be found at www.immunogen.com.
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