Lilly and ImmunoGen Enter $1.7 Billion Global License Agreement to Develop Novel Camptothecin-Based Antibody-Drug Conjugates
Feb 16, 2022 02:15
CST Updated
02:15
ImmunoGen
Antibody-Drug Conjugates (ADC) Developer
Eli Lilly
Global Pharmaceutical R&D and Production Company
Camptothecin (Image Source: healthcareradius.in)
News on February 15, 2022 /BioValleyBIOON/ -- ImmunoGen, Inc. is a biopharmaceutical company dedicated to developing the next generation of antibody-drug conjugates (ADCs). Recently, the company announced a global, multi-year licensing agreement with Eli Lilly and Company. This agreement grants Eli Lilly the rights to research, develop, and commercialize ADC products targeting Lilly-selected antigens based on ImmunoGen’s novel camptothecin (CPT) technology. ImmunoGen retains the use of the camptothecin platform forEli LillyAll rights to targets not covered by the agreement.
Camptothecin is an important class of anticancer drugs that target type I topoisomerase.ImmunoGen's proprietary camptothecin linker-payload is designed to optimize existing camptothecin technology, potentially offering a wider therapeutic window and improved safety and efficacy.
As part of the agreement, Eli Lilly will pay ImmunoGen an upfront payment of $13 million, reflecting the initial target selected by Eli Lilly. Eli Lilly may choose a pre-specified number of additional targets, and if Eli Lilly licenses the full number of targets, ImmunoGen will be eligible to receive an additional $32.5 million in exercise fees. Based on the achievement of pre-defined development, regulatory, and commercial milestones, ImmunoGen is eligible to receive up to $1.7 billion in potential target program exercise fees and milestone payments. ImmunoGen is also eligible to receive tiered royalties based on global product sales.Eli LillyWill be responsible for all expenses related to research and development.
Stacy Coen, Senior Vice President and Chief Commercial Officer of ImmunoGen: "Eli LillyIn transformingTumorWith a strong track record in bringing drugs to market, we are delighted they have chosen our novel camptothecin technology to combine with their efforts to develop the next generation of ADCs. This licensing agreement underscores ImmunoGen's continued innovation in the ADC field, leveraging proprietary platforms from our...Intellectual PropertyCreate value in China, and further enhance our ability to reinvest in our business to expand our pipeline and accelerate our transition to a fully integratedTumorThe company's transformation." (Bioon.com)