Novartis And Immunogen To Co-Produce Cancer Drugs
October 11 2010 - 4:43AM
Dow Jones News
Switzerland's Novartis AG (NVS) and U.S.-based Immunogen Inc
(IMGN) Monday said they signed a collaboration deal to develop
novel cancer treatments.
As part of the collaboration, Immunogen will receive an upfront
fee worth $45 million and potential milestone payments of up to
around $200 million, provided certain research targets are met.
Under the arrangement Novartis and Immunogen will work together
to develop so-called antibody drug conjugates to treat cancer.
Immunogen already has partnerships with Swiss drug maker Roche
Holding AG (ROG.VX) and Sanofi-Aventis SA (SAN.FR) of France as the
U.S. company's antibody drug conjucations are considered to be more
effective than traditional chemotherapy in treating cancer.
-By Goran Mijuk, Dow Jones Newswires, +41 43 443 80 47;
goran.mijuk@dowjones.com
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