WALTHAM, Mass. (AP) – Cancer treatment developer Immunogen Inc. said it will receive $20 million from Eli Lilly and Co. under a new collaboration agreement and could earn additional payments of about $200 million per drug through the deal.
Immunogen, based in Waltham, Mass., said Lilly will receive some exclusive licenses to use its Targeted Antibody Payload, or TAP, technology to develop cancer treatments. Immunogen declined to say how many licenses it granted the Indianapolis drugmaker.
TAP technology includes a tumor-targeting manufactured antibody with a cancer-killing agent attached. The antibody delivers the agent specifically to tumor cells, where it is released to kill the cells.
Lilly is responsible for developing and selling any products from the agreement, and Immunogen could receive royalties on future sales.
Immunogen also has received milestone payments from Amgen Inc. and French drugmaker Sanofi under development agreements.
Lilly, which makes the antipsychotic Zyprexa and the antidepressant Cymbalta, also includes the cancer drugs Alimta and Gemzar in its product portfolio. Sales for Gemzar have tumbled in recent quarters after the drug lost patent protection. The company also has several potential cancer treatments under development in its product pipeline.
Date: December 20, 2011
Source: Associated Press
