ImmunoGen Announces License Agreement with Novartis

ImmunoGen

, today announced that Novartis

has licensed the exclusive right to use the Company's antibody-drug conjugate (ADC) technology to develop anticancer therapeutics to an undisclosed target. This is the third license to be taken by Novartis – and the fifth to be taken by a major healthcare company – this year. “In the past year, Novartis, Eli Lilly and Amgen have each licensed exclusive rights to use our industry-leading ADC technology for one or more targets,” commented Daniel Junius, President and CEO. “There are now numerous highly promising product candidates in the clinic through our own programs and through our partnerships, with many earlier-stage