ImmunoGen and Millennium Sign Exclusive Product License
ImmunoGen, Inc. today announced that the Company and Millennium Pharmaceuticals, Inc. (Nasdaq: MLNM) have signed an exclusive product license for use of ImmunoGen's proprietary maytansinoid Tumor-Activated Prodrug (TAP) technology with Millennium's MLN591 antibody. This triggers Millennium's payment of a product licensing fee to ImmunoGen. In March 2001, the companies announced the formation of a collaboration that provides Millennium with access to ImmunoGen's TAP technology and enables Millennium to obtain exclusive product licenses for a restricted number of specific antigen targets during the collaboration.
MLN591 is directed towards the extracellular domain of Prostate Specific Membrane Antigen (PSMA), which is expressed by virtually all prostate tumors. DM1 is a highly potent cytotoxic agent developed by ImmunoGen. ImmunoGen's TAP technology couples the Company's proprietary anti-cancer agents with tumor- targeting antibodies to achieve antibody-directed killing of cancer cells.
"This product license represents the next step in our collaboration in the development of a TAP product comprised of Millennium's MLN591 and our DM1," said Mitchel Sayare, Ph.D., Chairman and CEO. "We are delighted with Millennium's stated goal to initiate clinical trials with MLN591DM1 this year and we will be manufacturing product for Millennium for this purpose."
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