ImmunoGen Signs $220M TAP Deal with Eli Lilly

ImmunoGen Inc. licensed its maytansinoid targeted antibody payload (TAP) technology to Eli Lilly and Co., for the development of a limited number of antibody-drug conjugates for cancer. Lilly will pay $20 million up front and up to $200 million in milestone payments. ImmunoGen will also receive compensation for any research and manufacturing services it may provide to Lilly.