Japanese pharmaceutical company Takeda (TYO: 4502) has entered into an exclusive collaboration and license agreement with ImmunoGen (NASDAQ: IMGN) to develop and commercialize ImmunoGen’s antibody-drug conjugate (ADC) Elahere (mirvetuximab soravtansine) in Japan. Elahere has received accelerated approval in the United States for the treatment of FRα-positive platinum-resistant epithelial ovarian, fallopian tube, or primary peritoneal cancer as a late-line option.
Financial Terms and Milestones of the Agreement
Under the terms of the agreement, Takeda will make an upfront payment of USD 34 million to ImmunoGen, along with double-digit royalties and regulatory and commercial milestone payments. This includes payments when the US accelerated approval is upgraded to full registration upon verification of clinical benefit in a confirmatory trial. ImmunoGen will supply Takeda with the drug for development and commercial use in Japan, while retaining production rights.
Strategic Goals and Market Potential
The partners aim to replicate the strong commercial launch of Elahere in the US in Takeda’s home market, where there is a significant unmet need for treatments for platinum-resistant ovarian cancer. The collaboration is expected to bring a promising new treatment option to patients in Japan and strengthen Takeda’s position in the oncology space.-Fineline Info & Tech
