Takeda, ImmunoGen Form ADC Pact
Takeda Pharmaceutical Company Ltd. and ImmunoGen, Inc., a biotechnology company that develops targeted anticancer therapeutics using antibody-drug conjugate (ADC) technology, report that Takeda has licensed exclusive rights to use ImmunoGen's ADC technology, including ImmunoGen's new DNA-acting IGN payload agents, to develop and commercialize targeted anticancer therapeutics to up to two undisclosed targets. The agreement also provides Takeda with the option to take a license for a third target for an additional upfront fee.
Under the agreement, ImmunoGen will receive $20 million upfront, and for each target, is eligible to receive milestone payments potentially totaling up to $210 million plus royalties on the commercial net sales of any resulting ADC products. Takeda is responsible for the development, manufacturing, and marketing of any ADC products resulting from the agreement.