ImmunoGen and Novartis have entered a licensing agreement under which Novartis has the exclusive right to use the company's ADC technology to develop anticancer therapeutics for an undisclosed target.
This is the second license agreement between the companies. For each license, ImmunoGen receives an upfront payment and is entitled to receive milestones potentially totaling $200 million, plus royalties on sales of any resulting products. Novartis is responsible for the development, manufacture and marketing of any products resulting from the license.
“We believe the therapies Novartis is developing with our ADC technology have the potential to make an important difference for patients,” said Daniel Junius, president and chief executive officer.
Novartis Licenses ImmunoGen’s ADC Technology
Published October 11, 2013
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