Updated on 24 March 2015
Japanese pharma major Takeda Pharmaceutical Company Limited and ImmunoGen Inc., a biotechnology company that develops targeted anticancer therapeutics using its antibody-drug conjugate (ADC) technology, has announced 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.
ImmunoGen will receive $20 million upfront and for each target is eligible to receive milestone payments potentially totalling 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 this agreement. Takeda signed an agreement with ImmunoGen through its wholly owned subsidiary, Millennium Pharmaceuticals, Inc.