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news.Aventis Pharmaceuticals, of the Sanofi-Aventis Group, has extended its research collaboration with ImmunoGen into a fourth year, so that the companies can continue to develop new anticancer compounds.
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As part of the extended collaboration, Aventis has committed a further $18.2 million to ImmunoGen research support over the twelve months beginning September 1, 2006. This funding is in addition to the research support already committed for the three years ending August 31, 2006.
“We are delighted that the Sanofi-Aventis Group has elected to extend this research collaboration,” commented Dr Mitchel Sayare, chairman and CEO, ImmunoGen. “The extension enables the two companies to work together for a fourth year to develop new compounds that can potentially generate revenue for ImmunoGen.”
In July 2003 ImmunoGen and Aventis Pharmaceuticals established a collaboration to discover, develop, and commercialize novel antibody-based anticancer products, an agreement that was maintained by the Sanofi-Aventis Group subsequent to Sanofi-Synthelabo’s acquisition of Aventis in 2004. The collaboration agreement entitles ImmunoGen to milestone payments and royalties on compounds that result from the research collaboration, as well as manufacturing payments for material produced for the Sanofi-Aventis Group.