ImmunoGen, Inc. (NASDAQ:IMGN) announced recently that they are entering into a partnership and option agreement with Jazz Pharmaceuticals plc –Ordinary Shares (NASDAQ:JAZZ) to develop and commercialize the stage two, hematology-related Antibody-Drug Conjugate (ADC) programs in addition to another program that will be authorized within the terms of agreement.
The programs will cover the IMGN779- CD33-targeting ADC which is still in phase I of the study and will be used to treat acute myeloid leukemia (AML) and the IMGN632 that is still under investigations in the preclinical study for curing hematological malignancies such as the AML. The IMGN632 is expected to enter into clinical stage before the end of the year.
Under the terms of the new agreement, the Jazz Pharmaceuticals will be granted the exclusive and worldwide rights to develop and supply the ADC program as well as the other single program that will be launched during the period of collaboration. Similarly, ImmunoGen will manage the development of three ADC programs before Jazz opts-in in which the company will leave the responsibility to Jazz for further development including the possible regulatory compliances and commercialization.
The agreement also stipulates that Jazz will give ImmunoGen an upfront compensation of $75 million. Furthermore, Jazz will pay over $100 million funds to ImmunoGen for over seven years in the support of the three ADC programs. For each program that Jazz would opt-in, the ImmunoGen would be entitled to a sum of milestone payments in accordance with the regulatory approvals of the products and much more.
After Jazz has opted-in, the two companies will then share the costs related to the development and attainment of the regulatory approvals of the applicable products supplied both in the US and European Union countries. Currently, ImmunoGen has some rights to co-commercialize one or two products subject to certain circumstances.
The collaboration will support the two companies’ long-term commitment to advance in the hematology or oncology portfolios with the possibility of adding advanced ADCs in the future. The new programs will help develop therapeutic options that are urgently needed for cancer patients.