Licensing deals for Amgen/ImmunoGen and Shire/Arrowhead

US biotechnology company ImmunoGen (Nasdaq), which develops anticancer therapeutics using its Targeted Antibody Payload (TAP) technology and antibody expertise, has licensed the exclusive right to use its maytansinoid TAP technology to global independent biotech Amgen (Nasdaq AMGN) to develop anticancer therapeutics to a third target, which is undisclosed. Amgen licensed rights for two other targets in 2009 and has two compounds in clinical testing under those licenses.

The licenses were taken under a 2000 agreement. For each license, ImmunoGen receives a $1 million upfront payment and is entitled to receive milestone payments potentially totaling $34 million plus royalties on the sales of any resulting products. Amgen is responsible for the development, manufacturing and marketing of any products resulting from the license.

"We're pleased with the interest major health care companies are showing in developing multiple product candidates with our TAP technology," commented Daniel Junius, ImmunoGen’s president and chief executive, adding: "In recent years, there has been a marked increase in the quantity of targets considered to be potentially appropriate for TAP compounds, which has expanded the opportunity for us and our partners."