ImmunoGen, Oxford BioTherapeutics To Collaborate To Develop Novel Antibody-Drug Conjugates
(RTTNews) - ImmunoGen Inc. (IMGN), a developer of antibody-drug conjugates (ADCs) for the treatment of cancer, announced Monday a multi-year collaboration to research novel, first-in-class ADCs with clinical stage oncology company Oxford BioTherapeutics (OBT), utilizing ImmunoGen's proprietary linker-payload technology directed to novel targets identified via OBT's proprietary OGAP discovery platform.
The companies will support these research and development (R&D) efforts through joint funding and by using their respective proprietary technologies.
As part of the agreement, OBT will receive an upfront payment from ImmunoGen, reflecting OBT's preclinical programs to be included in the collaboration. After antibodies generated by OBT have been coupled with ImmunoGen's proprietary linker-payload technology, each company will have the opportunity to select one or more development programs to further develop on its own.
Once a company has chosen a given program, it will be solely responsible for all R&D costs associated with that specific program.
Each company will be eligible to receive milestone payments based on the achievement of pre-specified development and regulatory milestones, as well as tiered royalties as a percentage of worldwide commercial sales, with respect to each program selected by the other company.
AbbVie To Acquire ImmunoGen For $31.26/shre In All-cash Deal Of About $10.1 Bln
ImmunoGen Inks Multi-Target License Deal With ImmunoBiochem For Next-Gen Antibody-Drug Conjugates
Euro Higher Against Majors
TSX Down Marginally In Lackluster Trade
Swiss Market Ends On Firm Note
European Stocks Close Mixed After Cautious Session
U.S. Business Inventories Rise In Line With Estimates In June
