ImmunoGen and Sanofi Amend License Agreements
May 30 2017 - 8:30AM
Business Wire
Amendments Grant Sanofi Exclusive, Fully-Paid
Licenses to Selected Development Compounds
ImmunoGen to Receive $30 Million License
Fee
ImmunoGen, Inc. (Nasdaq: IMGN), a leader in the expanding field
of antibody-drug conjugates (ADCs) for the treatment of cancer,
today announced that the Company and an affiliate of Sanofi have
amended their license agreements covering all compounds in
development by Sanofi using ImmunoGen’s technology.
Under the terms of the amended 2003 collaboration and license
agreement, ImmunoGen has granted Sanofi a fully-paid, exclusive
license to develop, manufacture, and commercialize the following
experimental compounds in development: isatuximab (SAR650984), an
unconjugated anti-CD38 antibody in Phase 3 development for relapsed
and refractory multiple myeloma; SAR566658, an ADC targeting CA6 in
Phase 2 development for triple negative breast cancer (TNBC);
SAR408701, an anti-CEACAM5 ADC being studied for the treatment of
solid tumors; and an additional ADC directed to an undisclosed
target. ImmunoGen and Sanofi have also amended a separate 2013
exclusive license to grant Sanofi a fully-paid, exclusive license
to develop, manufacture, and commercialize the experimental
compound SAR428926, an anti-LAMP1 ADC being studied for the
treatment of solid tumors.
As consideration for these amendments, ImmunoGen will receive a
$30 million payment and has agreed to forego a limited co-promotion
option in the U.S. with respect to the compounds covered by the
2003 agreement, as well as future milestones or royalties under
both license agreements.
“Amending these agreements allows us to continue to focus on the
development of our lead program, mirvetuximab soravtansine, while
advancing our earlier-stage portfolio and further strengthening
ImmunoGen’s cash position,” stated Mark Enyedy, president and chief
executive officer of ImmunoGen. “We believe Sanofi possesses the
right resources to complete the development of these innovative
candidates and potentially bring them to patients around the
globe.”
About ImmunoGenImmunoGen is a clinical-stage
biotechnology company that develops targeted cancer therapeutics
using its proprietary ADC technology. ImmunoGen's lead product
candidate, mirvetuximab soravtansine, is in a Phase 3 trial for
FRα-positive platinum-resistant ovarian cancer, and is in
Phase 1b/2 testing in combination regimens for earlier-stage
disease. ImmunoGen's ADC technology is used in Roche's marketed
product, Kadcyla®, in three other clinical-stage ImmunoGen product
candidates, and in programs in development by partners Amgen,
Bayer, Biotest, CytomX, Lilly, Novartis, Sanofi and Takeda. More
information about the Company can be found
at www.immunogen.com.
Kadcyla® is a registered trademark of Genentech, a
member of the Roche Group.
This press release includes forward-looking statements. For
these statements, ImmunoGen claims the protection of the safe
harbor for forward-looking statements provided by the Private
Securities Litigation Reform Act of 1995. It should be noted that
there are risks and uncertainties related to the development of
novel anticancer products, including mirvetuximab soravtansine, and
risks related to clinical studies, their timing and results. A
review of these risks can be found in ImmunoGen's transition report
on Form 10-K for the six-month transition period ended December 31,
2016 and other reports filed with the Securities and Exchange
Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20170530005254/en/
Thrust IRMonique Allaire, 617-895-9511monique@thrustir.comorFTI
Consulting, Inc.Robert Stanislaro,
212-850-5657robert.stanislaro@fticonsulting.com
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