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GEN News Highlights : Oct 21, 2008

Bayer Pays $4M Upfront to Use ImmunoGen’s Technology for a Solid Tumor Target

ImmunoGen stands to earn $170.5 million per product in various milestones.

Bayer HealthCare licensed exclusive, worldwide rights to ImmunoGen's tumor-activated prodrug (TAP) technology to develop cancer drugs to a particular target found on solid tumors.

ImmunoGen will receive an upfront payment of $4 million. For each compound developed and marketed by Bayer under this collaboration, ImmunoGen is entitled to milestones totaling $170.5 million plus royalties on commercial sales.

ImmunoGen will also be financially compensated for the production of any preclinical and nonpivotal clinical materials and for any product development research done under this deal. Bayer HealthCare is responsible for the research, development, manufacturing, and marketing of products resulting from this license.

ImmunoGen’s technology can enhance the anticancer activity of manufactured proteins. The company reports that its cell-killing agents are highly potent and can be affixed to such proteins using ImmunoGen linkers, which keep the agent attached and inactive until the TAP compound has bound to and entered a cancer cell. There, the cell-killing agent releases to kill the cancer cell.