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ImmunoGen, Inc. Message Board

  • wallstreetmd wallstreetmd Aug 29, 2013 9:23 AM Flag

    If anyone missed this news..........'kind of big"!

    28-Aug-2013

    Regulation FD Disclosure

    ITEM 7.01 - REGULATION FD DISCLOSURE
    On August 26, 2013, ImmunoGen, Inc. (referred to as "we," "us" or the "Company") entered into a license agreement with Eli Lilly and Company ("Lilly") 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.

    Sentiment: Strong Buy

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