ImmunoGen chooses Huadong’s $40M upfront offer for Greater China rights to ADC

ImmunoGen has been signaling for months that it would soon strike a licensing deal in China for its lead antibody-drug conjugate. On Monday, the biotech said Huadong will gain the program’s rights for $40 million up front, one of the higher sums paid for a clinical-stage cancer asset’s local rights.

Huadong Medicine Co. Ltd. (SZSE:000963) obtained a license covering mainland China, Hong Kong, Macau and Taiwan for ImmunoGen’s mirvetuximab soravtansine, an ADC targeting FOLR1. The U.S. company expects data next year from the Phase III SORAYA study of the ADC to treat ovarian cancer, with the potential for accelerated approval in 2022...