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ImmunoGen announces license agreement with Vertex Pharmaceuticals
The Fly

ImmunoGen announces license agreement with Vertex Pharmaceuticals

ImmunoGen (IMGN) announced a global, multi-target license and option agreement whereby it granted Vertex Pharmaceuticals (VRTX) rights to conduct research using ImmunoGen’s ADC technology to discover novel targeted conditioning agents for use with gene editing. Following the research period for each target, Vertex will have the option to obtain a worldwide, exclusive license to research, develop, and commercialize conditioning agents employing ImmunoGen’s technology for that target. ImmunoGen will retain full rights to the ADC technology for all targets not covered by the Vertex license. As part of the agreement, Vertex will pay ImmunoGen an upfront payment of $15M. ImmunoGen is eligible to receive up to $337M in option exercise fees and development and commercial milestone payments per target. ImmunoGen will be eligible to receive tiered royalties as a percentage of worldwide commercial sales of novel licensed targeted conditioning agents by Vertex. Vertex is responsible for all research, development, and commercialization and related costs.

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