ImmunoGen Allows Vertex Use Tech For Conditioning Agents For Use With Gene Editing
- ImmunoGen Inc announced a global, multi-target license and option agreement that granted Vertex Pharmaceuticals Incorporated rights for ImmunoGen's ADC technology to discover targeted conditioning agents for use with gene editing.
- After each target's research period, Vertex will have the option to obtain a worldwide, exclusive license to research, develop, and commercialize conditioning agents employing ImmunoGen's technology for that target.
- ImmunoGen will retain full rights to the ADC technology for all targets not covered by the Vertex license.
- Vertex will pay ImmunoGen an upfront payment of $15 million. ImmunoGen can receive up to $337 million in option exercise fees, development, and commercial milestone payments per target.
- Vertex is responsible for all research, development, commercialization, and related costs.
- The company reported Q4 revenues of $41.2 million compared to $28.0 million a year ago and the consensus of $17.23 million.
- ImmunoGen had $275.1 million in cash and cash equivalents.
- The company reported a Q4 EPS loss of $(0.23), compared to the consensus loss of $(0.30) and $(0.17) a year ago.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.