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ImmunoGen, Novartis ink license agreement

Friday, October 11, 2013

Novartis has licensed the exclusive right to use biotechnology company ImmunoGen’s ADC technology to develop anticancer therapeutics to an undisclosed target.

This is the second license to be taken by Novartis under a 2010 agreement between the companies. For each license, ImmunoGen receives an upfront payment and milestone payments potentially totaling approximately $200 million plus royalties on sales. Novartis is responsible for the development, manufacturing and marketing of any products resulting from the license.

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