Licensing deal lifts ImmunoGen shares

ImmunoGen Inc.’s shares rose a day after the Waltham-based company said it licensed rights on its cancer-treatment technology to Amgen Inc. for up to $35 million. Amgen has exclusive rights to ImmunoGen’s maytansinoid targeted antibody payload technology to develop anticancer treatments to an undisclosed target found on solid tumors. Under the deal, 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.