ImmunoGen and Lilly unite to develop cancer treatments

12/20/2011 | Wall Street Journal, The

ImmunoGen and Eli Lilly and Co. agreed to jointly develop antibody-based cancer drugs in a deal worth at least $20 million. The agreement gives Lilly exclusive licensing rights to some of ImmunoGen's cancer drugs in exchange for a $200 million milestone fee for each drug licensed as well as royalties on any product developed through the partnership. Maytansinoid targeted antibody payload technology developed by ImmunoGen delivers drugs straight to cancer cells.

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