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Takeda spends $230m on oncology biotech deal

Buys into ImmunoGen’s antibody-drug conjugate technology

Takeda HQJapanese pharma company Takeda has signed a deal potentially worth $230m with ImmunoGen for two anticancer targets.

Specifically, Takeda has licensed exclusive rights to use ImmunoGen's ADC technology -including ImmunoGen's new DNA-acting IGN payload agents - to develop and commercialise targeted anticancer therapeutics to up to two undisclosed targets. 

The agreement also provides Takeda, which signed the agreement with ImmunoGen through its subsidiary Millennium Pharmaceuticals, with the option to take a license for a third target for an additional upfront fee.

Daniel Junius, ImmunoGen's president and CEO, said: “Takeda shares our commitment to developing novel anticancer therapies that meaningfully improve the lives of patients, and we look forward to collaborating with them to create important new ADC product candidates.

ImmunoGen will receive $20m upfront and for each target is eligible to receive milestone payments potentially reaching $210m, plus royalties, on the sales of any resulting ADC products. 

Takeda will then be responsible for the development, manufacturing and marketing of any ADC products resulting from the agreement.

Christopher Claiborne, head of the oncology drug discovery unit at Takeda, said: “ADC technology is a critically important tool in addressing unmet needs in oncology. By partnering with ImmunoGen, we are able to leverage this important technology in Takeda's R&D program and bring novel agents through the clinic.”

Big pharma has already benefited from using ImmunoGen's platform, with its tubulin-acting maytansinoids being used in over ten ADCs, and most notably was used to create Roche's breast cancer drug Kadcyla (trastuzumab emtansine).

Article by
Ben Adams

24th March 2015

From: Research

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