ImmunoGen, Amgen in licensing deal

ImmunoGen said Amgen has exclusive rights to the company’s maytansinoid targeted antibody payload technology to develop anticancer treatments to an undisclosed target found on solid tumors.

Under the deal, Waltham-based ImmunoGen receives a $1 million license payment upfront and is entitled to receive milestone payments potentially totaling $34 million plus royalties on the sales of any resulting products.

Amgen, based in Cambridge, is responsible for the development, manufacturing, and marketing of any products resulting from the license.