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news.Japan-based Takeda Pharmaceutical Company and US-based ImmunoGen have signed a drug development agreement that could be worth more than $440m.
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Takeda has licensed exclusive rights to use ImmunoGen’s antibody-drug conjugate (ADC) technology including its new DNA-acting IGN payload agents to develop and commercialize targeted anticancer therapeutics to up to two undisclosed targets.
Under the deal, ImmunoGen will receive $20m upfront and is also eligible to receive milestone payments of up to $210m per target plus royalties on the commercial net sales of any resulting ADC products.
ImmunoGen president and CEO Daniel Junius said: "Takeda shares our commitment to developing novel anticancer therapies that meaningfully improve the lives of patients, and we look forward to collaborating with them to create important new ADC product candidates."
The deal will see Takeda responsible for the development, manufacturing and marketing of any ADC products produced under this agreement. It also provides Takeda with the option to take a license for a third target for an additional upfront fee.
Takeda head of the Oncology Drug Discovery Unit Christopher Claiborne said: "ADC technology is a critically important tool in addressing unmet needs in oncology.
"By partnering with ImmunoGen, we are able to leverage this important technology in Takeda’s R&D program and bring novel agents through the clinic."