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ImmunoGen (NASDAQ:IMGN): Bio Powerhouse Moving into Japan
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ImmunoGen (NASDAQ:IMGN): Bio Powerhouse Moving into Japan

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After a strong commercial launch in the U.S., ImmunoGen is teaming up with Takeda to develop and commercialize Elahere in Japan.

Biotechnology major ImmunoGen (NASDAQ:IMGN) has teamed up with Takeda Pharmaceutical (NYSE:TAK) to develop and commercialize Elahere in Japan.

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Elahere, IMGN’s cancer therapy, is indicated for epithelian ovarian, fallopian tube, or primary peritoneal cancer. While IMGN has seen a strong commercial launch of Elahere in the U.S., Takeda is a proven player in Japan with over two decades of experience.

Under the collaboration and licensing deal, IMGN will receive $34 million in upfront and milestone payments. Additionally, it also stands to receive potential regulatory and commercial milestone payments, along with royalties in the double digits.

Furthermore, IMGN has retained exclusive production rights and will provide the product for development and commercial use in Japan. In return, Takeda gets an exclusive license to develop and commercialize the therapy in the country.

Overall, the Street has a consensus price target of $23.83 on ImmunoGen, alongside a Strong Buy consensus rating. This points to a substantial 47.7% potential upside in the stock, on top of a nearly 178% price surge over the past year.

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