Jazz Pharmaceuticals Strikes Strategic Collaboration and Option Agreement with ImmunoGen

Deal diversifies + strengthens Jazz's hematology, oncology portfolio

Palo Alto – September 12, 2017 – Cooley advised Jazz Pharmaceuticals on its collaboration and option agreement with ImmunoGen granting Jazz Pharmaceuticals exclusive, worldwide rights to opt into development and commercialization of two early-stage, hematology-related antibody-drug conjugate (ADC) programs, as well as an additional program to be designated during the term of the agreement. Cooley partner Marya Postner led a cross-practice team advising Jazz.

The programs covered under the agreement include IMGN779, a CD33-targeted ADC for the treatment of acute myeloid leukemia (AML) in Phase 1 testing, and IMGN632, a CD123-targeted ADC for hematological malignancies expected to enter clinical testing before the end of the year.

Under the terms of the agreement, ImmunoGen will be responsible for the development of the three ADC programs prior to any potential opt-in by Jazz. Following any opt-in, Jazz would be responsible for any further development as well as for potential regulatory submissions and commercialization. As part of the agreement, Jazz will pay ImmunoGen an upfront payment of $75 million. Additionally, Jazz will pay ImmunoGen up to $100 million in development funding over seven years to support the three ADC programs.

"We are pleased to enter into this collaboration with ImmunoGen, a well-known leader in the field of ADC technology, with demonstrated success in creating ADC molecules, including the only FDA-approved ADC product to treat metastatic breast cancer,” said Bruce Cozadd, chairman and CEO of Jazz, in a news release. “This investment supports our long-term commitment to expand our hematology/oncology portfolio with the potential addition of multiple innovative antibody drug conjugates.”

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Related Contacts
Marya Postner  Partner Palo Alto
Stephanie Parker Palmer  Special Counsel Reston
Fraser Brown  Partner Washington, DC
Jennifer Raab  Special Counsel Palo Alto
Dr. Michelle Rhyu  Partner Palo Alto
Rachel Thorn  Partner New York
Priya Arora  Associate Palo Alto
Wendy Brenner  Partner Palo Alto, Los Angeles – Santa Monica
Chadwick Mills  Partner San Francisco
Natasha Leskovsek  Of Counsel Washington, DC