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ImmunoGen, Inc. Message Board

  • boeblingenbud boeblingenbud Aug 28, 2013 1:47 PM Flag

    Eli Lilly Enters Targeted Anti-body payload with IMGN

    Hey good news is here. IMGN may get up to 200.5 mil with Eli - Lilly. HOT OF THE PRESS.

    Take that OPPY and find fault.

    BOE

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    • Seeking Alpha had an alert...LLY buying the TAP technology for 200 million plus future royalties.

    • Nice, good POSITIVE stuff.

      On August 26, 2013, ImmunoGen, Inc. (Nadaq: IMGN) entered into a license agreement with Eli Lilly and Company (NYSE: LLY) granting Lilly rights to use our maytansinoid-based Targeted Antibody Payload (TAP) technology to develop and commercialize products directed to a specific antigen target on an exclusive basis. This license was granted pursuant to the terms of an existing Multi-Target Agreement entered into by the Company and Lilly in 2011.

      In accordance with the terms of the Multi-Target Agreement, execution of the license agreement entitles us to receive development, regulatory and sales milestone payments potentially totaling $200.5 million, as well as royalties on the commercial sales of any resultant products.

    • No press release, just a filing, nice IR work. Maybe it's coming later after they confer with LLY. Must be for the Erbitux molecule no? Super Erbitux sounds good.

 
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