Novartis licenses more ImmunoGen technology

|By:, SA News Editor

Novartis (NVS) has licensed the exclusive right to use ImmunoGen's (IMGN) ADC technology to develop anti-cancer drugs.

This is the second time that Novartis has made such a move - under a 2010 agreement, the Swiss giant pays an upfront fee to ImmunoGen for each license, milestone payments worth as much as $200M, and any royalties on sales. (PR)