BOSTON--(BUSINESS WIRE)--Attorneys from Mintz, Levin,Cohn, Ferris,Glovsky and Popeo, P.C. represented ImmunoGen, Inc. in a $200 million non-dilutive royalty transaction with funds managed by TPG Special Situations Partners (TSSP).
In return for the payment to ImmunoGen, TSSP will have the right to receive 100% of the royalty revenue on Kadcyla commercial sales that would otherwise be paid by Roche to ImmunoGen until TSSP has received a total of either $235 million or $260 million, depending on timing. After this threshold is met, if ever, ImmunoGen will receive 85% of the Kadcyla royalty revenue and TSSP will receive 15% of the Kadcyla royalty revenue until this revenue stream ends.
Leading the transaction on behalf of ImmunoGen was Richard Gervase, a Member of Mintz Levin’s Intellectual Property Practice. Other Mintz Levin attorneys included Daniel Kajunski, a Member of the firm’s Corporate Practice, Paul Ricotta, a Member of the Bankruptcy Practice and Jonathan Talansky, a Member of the firm’s Tax Practice. In addition, Daniel Bagliebter, Jennifer Dereka and Kanasha Herbert assisted in the transaction.
ImmunoGen, Inc. is a biotechnology company that develops targeted anticancer therapeutics using its antibody-drug conjugate (ADC) technology. The company utilizes its ADC technology with its antibodies to create ImmunoGen product candidates and also out-licenses limited rights to use its technology to other companies.
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