Takeda in-licenses ImmunoGen's antibody-drug conjugate technology
US biotech firm ImmunoGen (Nasdaq: IMGN) saw its shares leap 17% to $8.74 in early morning trading on news of a potentially lucrative deal with Japan’s largest drugmaker Takeda Pharmaceutical (TYO: 4502).
Takeda has licensed exclusive rights to use ImmunoGen’s ADC technology – including ImmunoGen’s new DNA-acting IGN payload agents – to develop and commercialize targeted anticancer therapeutics to up to two undisclosed targets. The agreement also provides Takeda with the option to take a license for a third target for an additional upfront fee.
Financial terms
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