ImmunoGen licenses TAP technology rights to Biotest

By Elaine Rigoli

Tampa, Fla., July 11 - ImmunoGen, Inc. has agreed to grant Biotest AG exclusive rights to use ImmunoGen's Tumor-Activated Prodrug (TAP) technology with antibodies targeting an undisclosed target to develop novel anticancer therapeutics.

Under the agreement, ImmunoGen will receive a $1 million upfront payment, up to $35.5 million in potential milestone payments and royalties on the sales of any resulting products.

"This agreement further expands the application of our TAP technology and the opportunity for a significant financial return to ImmunoGen. Of particular importance, it provides us with the flexibility to choose to participate in the U.S. development and commercialization of any compound created under it, which could substantially increase the upside for ImmunoGen," said Mitchel Sayare, chairman and chief executive officer of ImmunoGen, in a statement.

Biotest, located in Dreieich, Germany, is a company that researches and manufactures pharmaceutical, biotherapeutic and diagnostic products.

ImmunoGen develops targeted anticancer biopharmaceuticals and is based in Cambridge, Mass.

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