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ImmunoGen Announces New License Agreement with Novartis

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ImmunoGen (NASDAQ: IMGN) today announced that Novartis (NYSE: NVS) has licensed the exclusive
right to use the Company's ADC technology to develop anticancer
therapeutics to an undisclosed target.

“We believe the therapies Novartis is developing with our ADC technology
have the potential to make an important difference for patients,”
commented Daniel Junius, President and CEO.

This is the second license to be taken by Novartis under a 2010
agreement between the companies. For each license, ImmunoGen receives an
upfront payment and is entitled to receive milestone payments
potentially totaling approximately $200 million plus royalties on

See full press release

Posted-In: News Guidance Contracts Legal Global

 

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