Lilly, ImmunoGen in ADC Pact

Eli Lilly and Co. and ImmunoGen have entered into an antibody-drug conjugate (ADC) collaboration. Lilly will pay an upfront fee of $20 million for rights to take a limited number of exclusive licenses to use ImmunoGen’s maytansinoid Targeted Antibody Payload (TAP) technology with Lilly monoclonal antibodies to develop novel ADC anticancer therapeutics.

Daniel Junius, president and chief executive officer of ImmunoGen, commented, “Lilly is a leader in the development of innovative, anticancer medicines. Their commitment to developing significant new antibody-based therapeutics makes them an attractive partner for ImmunoGen.”

Greg Plowman, M.D., Ph.D., vice president Lilly Oncology Research and senior vice president of research for ImClone, remarked, “The use of ImmunoGen’s technology to develop antibody-drug conjugates holds promise in helping Lilly achieve improved outcomes for patients.”

Each license taken entitles ImmunoGen to receive milestone payments potentially totaling approximately $200 million, in addition to royalties on the sales of any resulting products. ImmunoGen also is entitled to receive financial compensation for any research and/or manufacturing done on behalf of Lilly. Lilly is responsible for the development, manufacturing, and marketing of any products resulting from this agreement.