ImmunoGen and Eli Lilly and Company have entered into an agreement that grants Lilly exclusive rights to research, develop and commercialize ADCs designed for targets selected by Lilly from ImmunoGen’s camptothecin technology.
ImmunoGen, a US-based biopharmaceutical company specializing in antibody-drug conjugates (ADCs) for the treatment of cancer, announced on February 15, 2022 that it had entered into a multi-year worldwide definitive license agreement with Eli Lilly and Company ( Lilly) which grants Lilly the exclusive rights to research, develop and commercialize ADCs directed at targets selected by Lilly based on ImmunoGen’s camptothecin technology. The deal is potentially worth more than $1.7 billion.
Under the agreement, Lilly will pay ImmunoGen $13 million upfront for the initial targets selected by Lilly. Lilly may also select a pre-specified number of additional targets under which ImmunoGen will be eligible to receive an additional $32.5 million in exercise fees if Lilly licenses the full number of targets. ImmunoGen is also eligible to receive up to $1.7 billion in potential target program exercise fees and milestone payments based on certain pre-defined development, regulatory and commercial milestones. ImmunoGen will also be eligible to receive tiered royalties as a percentage of Lilly’s worldwide commercial sales. Lilly, on the other hand, is responsible for all costs associated with research and development. ImmunoGen will retain full rights to the camptothecin platform for all targets not covered by the Lilly license.
Camptothecins are a class of anticancer drugs targeting topoisomerase type I. ImmunoGen’s proprietary class of camptothecin linker payloads are designed to optimize existing camptothecin technology, allowing for the potential provision of a longer therapeutic window wide with improved safety and efficiency.
“Lilly has a proven track record of bringing transformative oncology drugs to market, and we are delighted that they have chosen our novel camptothecin technology to incorporate into their next-generation ADC development efforts,” said Stacy Coen, Senior Vice President and Head of ImmunoGen. business executive, in a company press release. “This license agreement demonstrates ImmunoGen’s continued innovation in ADCs, creates value from our intellectual property around a proprietary platform, and further enhances our ability to reinvest in our business as we grow our pipeline and accelerate our transformation into a fully integrated oncology. business.”