Millennium and ImmunoGen Form Multi-Product Antibody Collaboration
--Alliance Focuses on Developing Enhanced and Selective
Oncology Therapeutics--
CAMBRIDGE, Mass., March 5 /PRNewswire/ -- Millennium Pharmaceuticals, Inc.
(Nasdaq: MLNM) and ImmunoGen, Inc. (Nasdaq: IMGN) today announced that they
have entered into an agreement that will provide Millennium access for a
period of five years to ImmunoGen's Tumor-Activated Prodrug (TAP) technology
for use with Millennium's proprietary antibodies. Millennium will acquire a
license to utilize TAP technology in its antibody product research efforts and
an option to obtain exclusive product licenses for a restricted number of
antigen targets during the collaboration.
The terms of this multi-year agreement call for an undisclosed up-front
technology access fee, potential milestone payments per antigen target, and
royalties on net sales of any resulting products. Millennium will be
responsible for product development, manufacturing and marketing of any
products developed through the collaboration. ImmunoGen may produce
preclinical and clinical material, at Millennium's request, for manufacturing
payments. The agreement can be renewed for one subsequent three-year period
for an additional technology access fee.
"Combining our TAP technology with Millennium's expertise in identifying
and validating targets will accelerate the development of novel therapeutics
from the genomics revolution," said Mitchel Sayare, Ph.D., Chairman and CEO of
ImmunoGen, Inc. "We are pleased to welcome Millennium, a leader in the
genomics field, to our growing list of partners. Millennium becomes our fifth
corporate partner developing TAP products."
"Millennium's preclinical and clinical therapeutic antibody pipeline spans
a broad spectrum of serious medical conditions such as cancer, multiple
sclerosis, inflammatory bowel disease, asthma and stroke," said John
Maraganore, senior vice president, strategic product development at
Millennium. "We are very excited to establish a relationship with ImmunoGen
that will build on our strength in oncology research and assist in our effort
to generate novel, potent and selective antibody therapies to address this
unmet medical need."
TAP Technology
ImmunoGen developed its tumor-activated prodrug, or TAP, technology to
address the therapeutic need for improved cancer therapies by delivering
highly potent cytotoxic agents directly to tumor cells with minimal harm to
healthy tissue. Each TAP product is comprised of a highly potent small
molecule effector drug which is 100- to 1000-fold more potent than existing
chemotherpeutics conjugated to a tumor-targeting monoclonal antibody. The
TAPs are designed to act as prodrugs and remain nontoxic while circulating in
the body, only activated once they are inside the target cell. In preclinical
studies, TAPs have shown therapeutic efficacy and complete cures at doses with
no detectable toxicity.
Millennium's Therapeutic Antibody Pipeline
Millennium is a leader in the discovery and development of therapeutic
antibodies. The Company is awaiting final review from the U.S. Food and Drug
Administration of the CAMPATH(R) (alemtuzumab) investigational humanized
monoclonal antibody for treatment of patients with chronic lymphocytic
leukemia who have been treated with alkylating agents and have failed
fludarabine therapy. Millennium's pipeline also includes several other
antibodies in clinical development. In collaboration with Genentech, Inc.,
the Company is conducting Phase II clinical trials with LDP-02 for Crohn's
disease and ulcerative colitis. LDP-01 is in Phase I/II clinical trials for
stroke.
Millennium has one of the most comprehensive toolkits available for
generating novel antibodies, with access to a variety of innovative and
advanced technologies. In addition to the Company's new relationship with
ImmunoGen for TAP technology, Millennium has existing relationships with
Abgenix for Xenomouse technology and Medarex, also for transgenic mouse
technology. These technologies are a powerful complement to Millennium's
strong capabilities in finding novel targets, based on broad expertise in gene
discovery, functional genomics, and disease biology. As a result, Millennium
is uniquely positioned to lead the industry in the discovery and development
of antibody therapeutics.
ImmunoGen, Inc. develops innovative biopharmaceuticals, primarily for
cancer treatment. The Company has created potent tumor-activated prodrugs,
consisting of drugs coupled to monoclonal antibodies, for delivery to and
destruction of cancer cells. Its lead product, huC242-DM1/SB-408075 is in two
Phase I/II clinical trials for treatment of colorectal, pancreatic and certain
non-small-cell lung cancers. Besides Millennium, the Company has partnerships
with GlaxoSmithKline, Genentech, British Biotech, Abgenix, MorphoSys, and
Avalon.
Millennium, a leading biopharmaceutical company, applies its comprehensive
and integrated science and technology platform for the discovery and
development of breakthrough therapeutic and predictive medicine products, with
a goal of delivering personalized medicine. Through the industrialization of
this gene-to-patient platform, Millennium is also striving to accelerate the
process of drug discovery and development. Headquartered in Cambridge,
Massachusetts, Millennium currently employs more than 1,300 people.
For ImmunoGen: This press release includes forward-looking statements
based on management's current expectations. Factors that could cause future
results to differ materially from such expectations include, but are not
limited to: the ability to secure future funding; the success of the
Company's research strategy; the applicability of the discoveries made
therein; the difficulties inherent in the development of pharmaceuticals,
including uncertainties as to the timing and results of preclinical studies;
delayed achievements of milestones; reliance on collaborators; uncertainty as
to whether the Company's potential products will succeed in entering human
clinical trials and uncertainty as to the results of such trials; uncertainty
as to whether adequate reimbursement for these products will exist from the
government, private healthcare insurers and third-party payors; and the
uncertainties as to the extent of future government regulation of the
pharmaceutical business. |
