Bayer HealthCare Pharmaceuticals has submitted an IND application for the TAP compound, BAY 94-9343, triggering a $2 million milestone payment to ImmunoGen. In preclinical testing, BAY 94-9343 demonstrated potent, targeted anticancer activity against mesothelin-expressing tumors.
Bayer is developing BAY 94-9343 under an agreement with ImmunoGen that grants Bayer exclusive rights to use the company’s maytansinoid TAP technology to develop anticancer therapeutics that target mesothelin. ImmunoGen is entitled to receive milestone payments potentially totaling $170.5 million for each resulting product, plus royalties on sales.
“BAY 94-9343 is a promising therapeutic for mesothelin-expressing cancers,” commented Daniel Junius, ImmunoGen president and chief executive officer. “In addition to BAY 94-9343, we expect five other TAP compounds to advance into clinical testing in next 12 months: two developed and wholly owned by ImmunoGen and three through our collaborations with other companies. Overall, we anticipate that there will be 12 TAP compounds in the clinic by this time next year.”