Global biotech company Amgen has licensed the exclusive right to use ImmunoGen's Targeted Antibody Payload (TAP) technology to develop anti-cancer therapies.

            It has already used the technology to develop therapeutics to two previous targets and now has two compounds in clinical development as a result.

            The company hopes to develop yet another product candidate and will make a $1 million upfront payment, along with milestone payments and royalties on the sales of any resulting therapy.

            Daniel Junius, president and chief executive officer of ImmunoGen, said: "We're pleased with the interest major healthcare companies are showing in developing multiple product candidates with our TAP technology.

           "In recent years, there has been a marked increase in the quantity of targets considered to be potentially appropriate for TAP compounds, which has expanded the opportunity for us and our partners."

            Amgen will be responsible for the development, manufacturing and marketing of any product that results from the latest license.