Massachusetts-based ImmunoGen and Toronto-based ImmunoBiochem have inked a multi-target license and option agreement to advance novel, first-in-class ADCs.
The collaboration will combine ImmunoGen’s proprietary linker and payload technologies with ImmunoBiochem’s antibodies directed against specific targets.
Big ticket deals in the ADC space are on the rise, with the most notable being Pfizer's $43 billion acquisition of Seagen. On the collaboration front, Eisai and BlissBio recently announced a clinical trial collaboration agreement worth up to $2 billion. While the financial details of the ImmunoGen-ImmunoBiochem deal were not disclosed, ImmunoGen will pay ImmunoBiochem an upfront fee in exchange for an exclusive license to existing antibodies directed against a specific undisclosed target. ImmunoBiochem will be eligible to receive milestone payments and royalties.