Active IND for New TAP Compound Triggers $1 Million Payment to ImmunoGen
WALTHAM, MA, USA I November 3, 2011 I ImmunoGen, Inc. (Nasdaq:IMGN – News), a biotechnology company that develops targeted anticancer products using its antibody expertise and Targeted Antibody Payload (TAP) technology, today announced that an Investigational New Drug (IND) application Amgen submitted for a novel anticancer compound that utilizes ImmunoGen’s TAP technology is now active. This event triggers a $1 million milestone payment to ImmunoGen.
Amgen had licensed rights to use the Company’s TAP technology for an undisclosed target under an agreement established in 2000 between ImmunoGen and Abgenix; Amgen acquired Abgenix in 2006.
"This is the first TAP compound to advance through our agreement with Amgen, and we look forward to it starting clinical testing," commented Daniel Junius, President and CEO. "We remain on track for as many as eleven TAP compounds to be in clinical testing by mid-2012 through our own programs and those of our partners, of which four should be in Phase II or later."
About ImmunoGen’s Targeted Antibody Payload (TAP) Technology
ImmunoGen developed its TAP technology to achieve more effective, better tolerated anticancer drugs. A TAP compound consists of a tumor-targeting manufactured antibody with one of ImmunoGen’s highly potent cancer-cell killing agents attached. The antibody serves to deliver the cancer-cell killing agent specifically to tumor cells, where the cancer-cell killing agent is released to kill these cells. Nine TAP compounds are now in clinical testing and/or have an active IND through ImmunoGen’s own product programs and those of its partners.
SOURCE: ImmunoGen
Post Views: 48
Active IND for New TAP Compound Triggers $1 Million Payment to ImmunoGen
WALTHAM, MA, USA I November 3, 2011 I ImmunoGen, Inc. (Nasdaq:IMGN – News), a biotechnology company that develops targeted anticancer products using its antibody expertise and Targeted Antibody Payload (TAP) technology, today announced that an Investigational New Drug (IND) application Amgen submitted for a novel anticancer compound that utilizes ImmunoGen’s TAP technology is now active. This event triggers a $1 million milestone payment to ImmunoGen.
Amgen had licensed rights to use the Company’s TAP technology for an undisclosed target under an agreement established in 2000 between ImmunoGen and Abgenix; Amgen acquired Abgenix in 2006.
"This is the first TAP compound to advance through our agreement with Amgen, and we look forward to it starting clinical testing," commented Daniel Junius, President and CEO. "We remain on track for as many as eleven TAP compounds to be in clinical testing by mid-2012 through our own programs and those of our partners, of which four should be in Phase II or later."
About ImmunoGen’s Targeted Antibody Payload (TAP) Technology
ImmunoGen developed its TAP technology to achieve more effective, better tolerated anticancer drugs. A TAP compound consists of a tumor-targeting manufactured antibody with one of ImmunoGen’s highly potent cancer-cell killing agents attached. The antibody serves to deliver the cancer-cell killing agent specifically to tumor cells, where the cancer-cell killing agent is released to kill these cells. Nine TAP compounds are now in clinical testing and/or have an active IND through ImmunoGen’s own product programs and those of its partners.
SOURCE: ImmunoGen
Post Views: 48
