ImmunoGen gives Sanofi-Aventis option to extend use of anticancer drug technology

Biotechnology company ImmunoGen Inc. of Cambridge said today it agreed to give French drug maker Sanofi-Aventis SA expanded access to its tumor-activated prodrug technology, earning $500,000.

Sanofi-Aventis already had the right to use the technology, which is used to produce antibody based cancer-cell killers, for targets included in an existing research collaboration between the companies.

The new agreement gives Sanofi-Aventis the option to extend the agreement beyond the scope of the existing collaboration and license the right to use the technology to develop new products.

Financial details of the agreement were not disclosed.

Shares of ImmunoGen rose 4 cents to $5.24 in morning trading on the Nasdaq Stock Market. (AP)