ImmunoGen Announces Collaboration with Takeda to Develop and Commercialize ELAHERE in Japan

Under the terms of the collaboration and license agreement, ImmunoGen will receive a one-time, upfront payment and an additional payment upon conversion of US Food and Drug Administration (FDA) accelerated approval of ELAHERE in platinum-resistant ovarian cancer (PROC) to full approval. The Company is eligible to receive additional payments if Takeda achieves prespecified regulatory and commercial milestones, as well as double-digit royalties on future net sales of ELAHERE in Japan. Per the agreement, ImmunoGen has retained exclusive production rights and will supply product for development and commercial use in Japan. In exchange, Takeda will receive an exclusive license to develop and commercialize ELAHERE in Japan and is responsible for all regulatory filings and obligations.

“We are pleased to bring ELAHERE to Japan, where there is a significant unmet need for patients with ovarian cancer, particularly for those whose disease has become resistant to platinum-based treatments,” said Teresa Bitetti, President of the Global Oncology Business Unit at Takeda. “The data from the Phase 3 MIRASOL study demonstrate the potential for ELAHERE to become the new standard of care for this devastating disease, and we are confident this collaboration with ImmunoGen will bring significant value to patients in Japan. This investment is reflective of Takeda’s commitment to partnering with organizations that share our passion for developing new medicines for cancers with limited or ineffective treatment options and brings us one step closer to achieving our aspiration to cure cancer.”