M&A

Under the terms of the agreement, ImmunoGen is expected to receive a one-time, upfront payment as well as an additional payment upon conversion of the US Food and Drug Administration’s (FDA) accelerated approval of Elahere for the treatment of platinum-resistant ovarian cancer (PROC) to full approval. 

The company is also eligible to receive further payments if Takeda achieves various prespecified regulatory and commercial milestones. Takeda will then receive an exclusive licence to develop and commercialise Elahere in Japan and will be responsible for its 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,” Teresa Bitetti, president of the global oncology business unit at Takeda, commented. “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 organisations 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.”

Mark Enyedy, ImmunoGen’s president and chief executive officer, stated: “As a leader in the development and commercialisation of novel products in oncology for more than two decades and with a deep heritage and presence in Japan, Takeda is the ideal partner to help us deliver Elahere to eligible patients in this important market. Building upon our strong commercial launch in the US, this partnership reinforces the continued excitement around Elahere’s practice-changing potential and our commitment to bringing this biomarker-directed ADC to patients globally.”