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ImmunoGen Licenses Cancer Treatment Technology to Amgen

Thu, 09/17/2009 - 4:45am
WALTHAM, Mass. (AP) — ImmunoGen Inc. has licensed rights on its cancer-treatment technology to Amgen Inc. for up to $35 million. ImmunoGen said Amgen has exclusive rights to the company's maytansinoid targeted antibody payload technology to develop anticancer treatments to an undisclosed target found on solid tumors. Under the deal, ImmunoGen receives a $1 million license payment upfront and is entitled to receive milestone payments potentially totaling $34 million plus royalties on the sales of any resulting products. Amgen is responsible for development, manufacturing and marketing of any products resulting from the license.

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