British Biotech deal with ImmunoGen

British Biotech (LSE:BBG; BBIOY) announced the first of what it anticipates will be multiple in-licensing deals with the in-licensing of hu901- DM1 to treat small cell lung cancer from ImmunoGen (IMGN). BBG received exclusive rights in Europe and Japan to IMGN's compound, a tumor-activated prodrug consisting of a humanized monoclonal antibody coupled with the cytotoxic agent DM1, a maytansine derivative.

According to BBG Finance Director Tony Weir, the company would like to build a portfolio of 10 to 15 products in various stages of development. With the IMGN deal, BBG has six products in preclinical and clinical development, including its marimastat matrix metalloproteinase inhibitor which is in seven Phase III cancer trials. ...