Takeda Pharmaceutical Company Limited (TSE:4502) and ImmunoGen,
Inc. (Nasdaq: IMGN), a biotechnology company that develops targeted
anticancer therapeutics using its state-of-the-art antibody-drug
conjugate (ADC) technology, today announced that Takeda has
licensed exclusive rights to use ImmunoGen’s ADC technology
– including ImmunoGen’s new DNA-acting IGN payload agents
– to develop and commercialize targeted anticancer
therapeutics to up to two undisclosed targets. The agreement also
provides Takeda with the option to take a license for a third
target for an additional upfront fee.
ImmunoGen will receive $20 million upfront and – for each
target – is eligible to receive milestone payments
potentially totaling up to $210 million plus royalties on the
commercial net sales of any resulting ADC products. Takeda is
responsible for the development, manufacturing and marketing of any
ADC products resulting from this agreement.
“Takeda shares our commitment to developing novel anticancer
therapies that meaningfully improve the lives of patients, and we
look forward to collaborating with them to create important new ADC
product candidates,” commented Daniel Junius, ImmunoGen President
and CEO.
“ADC technology is a critically important tool in addressing
unmet needs in oncology,” said Christopher Claiborne, Ph.D., Head
of the Oncology Drug Discovery Unit at Takeda. “By partnering with
ImmunoGen, we are able to leverage this important technology in
Takeda’s R&D program and bring novel agents through the
clinic.”
Takeda signed an agreement with ImmunoGen through its wholly
owned subsidiary, Millennium Pharmaceuticals, Inc.
ImmunoGen is not updating its guidance for its 2015 fiscal year
at this time.
About ImmunoGen’s ADC Technology Portfolio
ImmunoGen created – and continues to expand – its
proprietary portfolio of ADC technology to enable the creation of
new treatments for people with cancer.
An ADC consists of a monoclonal antibody that binds to a target
found on cancer cells with a cancer-cell killing agent, or
“payload,” attached. The antibody serves to target the payload
specifically to the cancer cells and the payload serves to kill
these cells. In some cases, the antibody also has meaningful
anticancer activity.
ImmunoGen has established a deep portfolio of ADC technology to
enable the development of an optimal ADC design for each cancer
target, including a selection of potent payload agents and
engineered linkers.
ImmunoGen’s cell-killing payload agents have been developed
specifically for delivery to cancer cells using a targeting
vehicle: they are more potent than traditional chemotherapy agents
and can be attached to the targeting vehicle via ImmunoGen’s
engineered linkers. The Company’s portfolio of proprietary payload
agents includes its tubulin-acting maytansinoids, which are used in
over ten ADCs in the clinic today including the marketed product,
Kadcyla®. ImmunoGen created its DNA-acting IGN family of payload
agents to further expand the types of cancers potentially
addressable with effective ADC therapies, such as cancers
insensitive to tubulin-acting agents or with less-robust target
expression.
ImmunoGen’s engineered linkers are designed to be stable while
the ADC is traveling through the blood stream to the cancer cells
and then optimize payload release and antitumor activity. The
Company has established a rich portfolio of intracellularly
cleavable and non-cleavable linkers. To facilitate assessment of
alternative linker/payload pairings in optimizing ADC design,
ImmunoGen’s linkers are compatible with both its maytansinoid and
IGN platforms.
About Takeda
Located in Osaka, Japan, Takeda is a research-based global
company with its main focus on pharmaceuticals. As the largest
pharmaceutical company in Japan and one of the global leaders of
the industry, Takeda is committed to strive towards better health
for people worldwide through leading innovation in medicine.
Additional information about Takeda is available through its
corporate website, www.takeda.com.
About ImmunoGen, Inc.
ImmunoGen, Inc. develops targeted anticancer therapeutics. The
Company’s ADC technology uses tumor-targeting antibodies to deliver
an ImmunoGen cell-killing agent specifically to cancer cells; the
Company has also developed antibodies with anticancer activity of
their own. The first product with ImmunoGen’s ADC technology is
Roche’s Kadcyla. ImmunoGen has three wholly owned product
candidates in clinical testing with additional compounds in
clinical testing through the Company’s partnerships with Amgen,
Bayer HealthCare, Biotest, Novartis and Sanofi. More information
about ImmunoGen can be found at www.immunogen.com.
Kadcyla® is a registered trademark of Genentech, a member of the
Roche Group.
For Takeda:
This press release contains forward-looking statements.
Forward-looking statements include statements regarding Takeda's
plans, outlook, strategies, results for the future, and other
statements that are not descriptions of historical facts.
Forward-looking statements may be identified by the use of
forward-looking words such as "may," "believe," "will," "expect,"
"project," "estimate," "should," "anticipate," "plan," "assume,"
"continue," "seek," "pro forma," "potential," "target," "forecast,"
"guidance," "outlook" or "intend" or other similar words or
expressions of the negative thereof. Forward-looking statements are
based on estimates and assumptions made by management that are
believed to be reasonable, though they are inherently uncertain and
difficult to predict. Investors are cautioned not to unduly rely on
such forward-looking statements.
Forward-looking statements involve risks and uncertainties that
could cause actual results or experience to differ materially from
that expressed or implied by the forward-looking statements. Some
of these risks and uncertainties include, but are not limited to,
(1) the economic circumstances surrounding Takeda's business,
including general economic conditions in Japan, the United States
and worldwide; (2) competitive pressures and developments; (3)
applicable laws and regulations; (4) the success or failure of
product development programs; (5) actions of regulatory authorities
and the timing thereof; (6) changes in exchange rates; (7) claims
or concerns regarding the safety or efficacy of marketed products
or product candidates in development; and (8) integration
activities with acquired companies.
The forward-looking statements contained in this press release
speak only as of the date of this press release, and Takeda
undertakes no obligation to revise or update any forward-looking
statements to reflect new information, future events or
circumstances after the date of the forward-looking statement. If
Takeda does update or correct one or more of these statements,
investors and others should not conclude that Takeda will make
additional updates or corrections.
For ImmunoGen:
This press release includes forward-looking statements related
to ImmunoGen’s collaboration with Takeda. For these statements,
ImmunoGen claims the protection of the safe harbor for
forward-looking statements provided by the Private Securities
Litigation Reform Act of 1995. Various factors could cause
ImmunoGen's actual results to differ materially from those
discussed or implied in the forward-looking statements, and you are
cautioned not to place undue reliance on these forward-looking
statements, which are current only as of the date of this release.
Factors that could cause future results to differ materially from
such expectations include, but are not limited to the timing and
outcome of ImmunoGen's and the Company's collaboration partners'
research and clinical development processes; the difficulties
inherent in the development of novel therapeutics, including
uncertainties as to the timing, expense and results of preclinical
studies, clinical trials and regulatory processes; industry merger
and acquisition activity; and other factors more fully described in
ImmunoGen's Annual Report on Form 10-K for the fiscal year ended
June 30, 2014 and other reports filed with the Securities and
Exchange Commission.
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For Investors:ImmunoGen, Inc.Carol Hausner,
781-895-0600info@immunogen.comorFor Media:Pure Communications,
Inc.Dan Budwick, 973-271-6085orTakeda Pharmaceutical Company
LimitedElizabeth Pingpank,
617-444-1495Elizabeth.pingpank@takeda.comorCorporate Communications
Department+81-3-3278-2037
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