ImmunoBiochem announces license and option agreement with ImmunoGen

ImmunoBiochem announced a multi-target license and option agreement with ImmunoGen to advance novel, first-in-class ADCs. The collaboration will combine ImmunoGen’s proprietary linker and payload technologies with ImmunoBiochem’s antibodies directed against specific targets. As part of the agreement, ImmunoGen will pay ImmunoBiochem an upfront fee in exchange for an exclusive license to existing antibodies directed against a specific undisclosed target. ImmunoBiochem will be eligible to receive milestone payments and royalties based on the achievement of pre-specified development, regulatory, and commercial milestones. ImmunoGen will collaborate with ImmunoBiochem on preclinical activities and ImmunoGen will assume responsibility for the program’s future clinical development and commercialization activities. ImmunoGen will also have the option to select additional targets and antibodies to license based on certain preclinical work undertaken by ImmunoBiochem. If ImmunoGen chooses to exercise this option, ImmunoBiochem will receive an option exercise payment and ImmunoGen will assume responsibility for all subsequent R&D associated with that program.