ImmunoGen has entered into a collaboration with Novartis to discover and develop cancer drugs based on antibodies.
Novartis will pay a $45m upfront fee to ImmunoGen to use its targeted antibody payload technology to target anticancer therapeutics.
Novartis will be responsible for development, manufacturing and marketing of drugs evolving from the collaboration.
ImmunoGen will receive milestone payments up to $200m in addition to royalties on drug sales, and compensation for research and manufacturing done for Novartis.
A targeted antibody payload compound consists of an antibody with cancer-killing agents attached it.