Amgen Takes Third License for Rights to Use ImmunoGen’s TAP Technology

  Amgen Takes Third License for Rights to Use ImmunoGen’s TAP Technology

Business Wire

WALTHAM, Mass. -- December 19, 2012

ImmunoGen, Inc. (NASDAQ: IMGN), a biotechnology company that develops
anticancer therapeutics using its Targeted Antibody Payload (TAP) technology
and antibody expertise, today announced that Amgen has licensed the exclusive
right to use the Company’s maytansinoid TAP technology to develop anticancer
therapeutics to a third target, which is undisclosed. Amgen licensed rights
for two other targets in 2009 and has two compounds in clinical testing under
those licenses.

“We’re pleased with the interest major healthcare companies are showing in
developing multiple product candidates with our TAP technology,” commented
Daniel Junius, President and CEO. “In recent years, there has been a marked
increase in the quantity of targets considered to be potentially appropriate
for TAP compounds, which has expanded the opportunity for us and our
partners.”

The licenses were taken under a 2000 agreement. For each license, ImmunoGen
receives a $1million upfront payment and is entitled to receive milestone
payments potentially totaling $34millionplus royalties on the sales of any
resulting products. Amgen is responsible for the development, manufacturing
and marketing of any products resulting from the license.

About ImmunoGen, Inc.

ImmunoGen, Inc. develops targeted anticancer therapeutics using its TAP
technology together with the Company’s expertise in monoclonal antibodies and
tumor biology. A TAP compound uses a tumor-targeting monoclonal antibody to
deliver one of ImmunoGen's purpose-developed cancer-killing agents
specifically to tumor cells. Ten TAP compounds are now in clinical testing, of
which three are wholly owned by the Company. Marketing applications for
trastuzumab emtansine (T-DM1), the most advanced compound using ImmunoGen's
TAP technology, are under review in the US and Europe. Roche is developing
this compound globally under an agreement between ImmunoGen and Genentech, a
member of the Roche Group. More information about ImmunoGen can be found at
www.immunogen.com.

Contact:

For Investors:
ImmunoGen, Inc.
Carol Hausner, 781-895-0600
Executive Director, Investor Relations and Corporate Communications
info@immunogen.com
or
For Media:
The Yates Network
Barbara Yates, 781-258-6153
 
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