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ImmunoGen licenses compounds for $30M

ImmunoGen Inc. agreed to license some of its compounds to Sanofi for a $30 million payment.

The compounds were developed by Sanofi using ImmunoGen's technology. They are five in total: SAR650984, SAR566658, SAR408701 and SAR428926 for the treatment of certain types of tumors, including triple negative breast cancer, and an antibody-drug conjugate being directed to an undisclosed target.

ImmunoGen also agreed to forgo future milestone and royalty payments in exchange for the payment.