Xconomy | Boston - Business + Technology in the Exponential Economy

ImmunoGen Nabs $1M From Amgen

Waltham, MA-based ImmunoGen (NASDAQ: IMGN) said today that Amgen has purchased a second license to develop a treatment that uses ImmunoGen’s technology for linking targeted antibodies to cell-killing agents that make them more potent. ImmunoGen will get $1 million upfront and could receive $34 million worth of milestone payments over time if Amgen is successful in developing a drug against an undisclosed target on cancer cells. Amgen bought its first such license to the ImmunoGen technology in September.

Luke Timmerman is the National Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.

Comments | Reprints | Share: