ImmunoGen has entered a licensing agreement through which Eli Lilly and Company has obtained exclusive rights for the research, development and marketing of antibody-drug conjugates (ADCs).
These ADCs will be directed to targets chosen by Lilly based on the new camptothecin technology of ImmunoGen.
Go deeper with GlobalData
According to the international, multi-year definitive deal, ImmunoGen holds complete rights to the camptothecin platform for all targets that are not selected under the Lilly licence.
ImmunoGen is eligible for an upfront payment of $13m from Lilly for the preliminary targets opted by the latter.
Furthermore, Lilly has the option to select a predetermined number of additional targets for which ImmunoGen is entitled to a further $32.5m in exercise fees if Lilly licenses all the targets.
See Also:
ImmunoGen could receive up to $1.7bn in potential target programme exercise fees and milestone payments on meeting development, regulatory and commercial goals that are pre-specified.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataLilly will also make tiered royalty payments to ImmunoGen as a percentage of global commercial sales.
In addition, Lilly will handle complete expenses linked to the research and development of the ADCs.
ImmunoGen senior vice-president and chief business officer Stacy Coen said: “Lilly has a proven track record of bringing transformative oncology medicines to market and we are pleased that they selected our novel camptothecin technology to integrate with their efforts to develop next-generation ADCs.
“This licensing agreement demonstrates ImmunoGen’s continued innovation in ADCs, creates value from our intellectual property around a proprietary platform and further enhances our ability to re-invest in our business as we build out our pipeline and accelerate our transformation into a fully-integrated oncology company.”
A crucial class of anticancer drugs, Camptothecins act on Type I topoisomerase.
Earlier, the US Food and Drug Administration (FDA) granted emergency use authorization (EUA) to Lilly’s bebtelovimab for the treatment of Covid-19.
