Extended agreement gives company ability use antibodies to targets not included in original deal.
Sanofi-aventis gained expanded access to ImmunoGen’s Tumor-Activated Prodrug (TAP) technology. Under this option agreement, the company can use the technology with antibodies to targets not included in the previous 2003 research collaboration between the two firms.
“In the past six months, sanofi-aventis has exercised its second and final option to extend the duration of our research collaboration, advanced another compound from this collaboration into the clinic, licensed broader access to our humanization technology, and now taken an option for expanded access to our TAP technology,” comments Mitchel Sayare, chairman and CEO.
ImmunoGen earned $500,000 with the signing of this option agreement. Sanofi-aventis extended the duration of the research collaboration to the maximum length permissible under the original agreement, and now ends on August 31, 2008. In the 2003 deal, ImmunoGen and Aventis Pharmaceuticals (a predecessor to sanofi-aventis) established a collaboration to discover, develop, and commercialize antibody-based anticancer products.
Sanofi-aventis now has the right to enter into a multitarget agreement with ImmunoGen by August 31, 2008 through the payment of an agreed-upon option exercise fee. The multitarget agreement would has certain restrictions and allows sanofi-aventis to license the right to use the technology to develop products for such targets on agreed-upon terms.
