ImmunoGen Inks Multi-Target License Deal With ImmunoBiochem For Next-Gen Antibody-Drug Conjugates
(RTTNews) - ImmunoGen, Inc. (IMGN) announced Monday a multi-target license and option agreement to research novel, first-in-class ADCs with privately-held biopharmaceutical company ImmunoBiochem Corp.
The collaboration will combine ImmunoGen's proprietary linker-payload technology with ImmunoBiochem's antibodies directed against specific targets.
Under the terms of the agreement, ImmunoBiochem will receive an upfront payment in exchange for providing ImmunoGen with an exclusive license to existing antibodies directed against a specific undisclosed target.
ImmunoBiochem will be eligible to receive milestone payments and royalties based on the achievement of pre-specified development, regulatory, and commercial milestones.
ImmunoGen will collaborate with ImmunoBiochem on preclinical activities and assume responsibility for the program's future clinical development and commercialization activities.
ImmunoGen will also have the option to select additional targets and antibodies to license based on certain preclinical work undertaken by ImmunoBiochem.
If ImmunoGen chooses to exercise this option, ImmunoBiochem will receive an option exercise payment and ImmunoGen will assume responsibility for all subsequent R&D associated with that program.
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