On January 26, 2016 ImmunoGen, Inc. (Nasdaq: IMGN), a biotechnology company that develops targeted anticancer therapeutics using its antibody-drug conjugate (ADC) technology, reported the Company earned a milestone payment with Bayer’s initiation of a global Phase 2 clinical study designed to support registration of anetumab ravtansine (BAY 94-9343) (Press release, ImmunoGen, JAN 26, 2016, View Source [SID:1234508863]). Anetumab ravtansine, a mesothelin-targeting ADC, is a potential new treatment for mesothelioma developed by Bayer using ImmunoGen’s ADC technology. Schedule your 30 min Free 1stOncology Demo! "We are excited that Bayer has advanced anetumab ravtansine into a clinical study designed to support its registration," commented Daniel Junius, President and CEO. "There is a significant need for new therapies for mesothelioma, and ImmunoGen is committed to transforming the treatment of difficult cancers – both through our own product programs and through partnerships with other companies."
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Bayer is developing anetumab ravtansine under a 2008 license agreement with ImmunoGen that granted the company exclusive rights to use ImmunoGen’s maytansinoid ADC technology to develop anticancer therapies targeting mesothelin. Bayer is responsible for the development, registration, and commercialization of anetumab ravtansine. ImmunoGen is entitled to receive milestone payments potentially totaling up to $170 million and royalties on commercial sales, if any.