ImmunoGen, a leading biopharmaceutical company, announced on Monday a multitarget license and option agreement with ImmunoBiochem. This collaboration aims to research and develop novel antibody-drug conjugates, utilizing ImmunoGen’s cutting-edge linker-payload technology along with ImmunoBiochem’s specific target-directed antibodies.
Exclusive License and Upfront Payment
As part of the agreement, ImmunoBiochem will grant ImmunoGen an exclusive license to their existing antibodies that target a undisclosed specific target. In exchange, ImmunoBiochem will receive an upfront payment from ImmunoGen.
Milestone Payments and Royalties
ImmunoBiochem will also be eligible for milestone payments and royalties based on the successful achievement of pre-specified development, regulatory, and commercial milestones.
Collaborative Efforts in Preclinical Activities
The collaboration between ImmunoGen and ImmunoBiochem will involve joint efforts in preclinical activities. ImmunoGen will then take over the responsibility for future clinical development and commercialization activities of the program.
Option for Additional Targets and Antibodies
As part of the agreement, ImmunoGen will have the option to select additional targets and antibodies to license based on specific preclinical work carried out by ImmunoBiochem. If this option is exercised, ImmunoBiochem will receive an option exercise payment while ImmunoGen assumes responsibility for all subsequent R&D associated with the chosen program.
