Jazz gambles $175M on a triple-pronged armed antibody pact with ImmunoGen
Jazz Pharmaceuticals is teaming up with ImmunoGen on a slate of armed antibodies.
Jazz $JAZZ will pay $175 million — $75 million upfront and $100 million in research support — to claim opt-in rights on a lineup of three antibody-drug conjugates either just in the clinic or planned for human studies. At the top of the list is ImmunoGen’s $IMGN Phase I ADC IMGN779, a CD33-targeted ADC for the treatment of acute myeloid leukemia, and IMGN632, a CD123-targeted ADC for hematological malignancies being teed up for its first Phase I. Another program will be designated for the collaboration later.
It won’t be quick. Jazz’s R&D funding stretches out over 7 years, and the company will be responsible for taking over development on any drug it options. Once an option is in place, ImmunoGen will be in line for unspecified milestones and a range of royalties. ImmunoGen will retain US co-commercialization rights to one or two of the programs, sharing in the costs of getting the drugs through to an approval.
ImmunoGen is using one of its novel indolino-benzodiazepine payloads in ‘779. These drugs work best by latching on to cancer cells and then bombing them with a toxic therapy, bypassing healthy cells.
“This strategic partnership with Jazz significantly advances our goal of accelerating the development of our early-stage novel ADC assets. This deal joins us with a global partner, provides us with substantial funding to support these programs, and preserves the right to co-commercialize one of these assets,” said Mark Enyedy, president and chief executive officer of ImmunoGen.