a leading firm specializing in antibody-drug conjugates (ADCs), announced a global, multi-target license and option agreement with Vertex Pharmaceuticals. The deal provides Vertex with the rights to use ImmunoGen’s ADC technology to research and discover targeted conditioning agents to be used in gene editing.
After each research period, Vertex will have the option to obtain an exclusive worldwide license to research, develop, and commercialize conditioning agents using ImmunoGen’s technology for that target. ImmunoGen will hold full rights to the ADC technology for any targets not covered by the Vertex license.
Vertex will pay an upfront payment of $15 million as part of the agreement. In addition, ImmunoGen is eligible to receive up to $337 million in option exercise fees, development, and commercial milestone payments for each target. ImmunoGen will also receive tiered royalties as a percentage of worldwide commercial sales of licensed targeted conditioning agents by Vertex. Vertex will be responsible for all research, development, and commercialization costs.
ImmunoGen’s Executive Vice President, Research, Development, and Medical Affairs, Michael Vasconcelos, MD, commented, “Given Vertex’s extensive experience discovering and developing transformative medicines for patients with serious diseases, we are thrilled they have chosen to explore ImmunoGen’s technology to develop ADCs for transplant conditioning in connection with gene editing.” He further emphasized, “This agreement reflects our continued innovation in the ADC space and demonstrates the value of our technology platform and related intellectual property.”
