A Silver Lining for British Biotech and ImmunoGen

Executive Summary

British Biotech acquired EU and Japanese rights to ImmunoGen's preclinical cancer compound, huN901-DM1. As part of the deal, British Biotech also will be responsible, on a contract basis, for US clinical development of the drug. ImmunoGen retains US product rights, allowing it to establish the drug's value before out-licensing. For British Biotech, which has reorganized, the deal is typical of its new strategy of emphasizing its development capabilities, acting in a CRO-like manner for other companies. ImmunoGen is also enjoying something of a renaissance, having inked two deals with Genentech, which will apply ImmunoGen technology to develop monoclonal antibody/drug conjugates.