Singapore: Immunogen has inked a pact with Japanese drugmaker Takeda pharmaceuticals that gives Takeda exclusive rights to access Immunogen's technology to develop cancer therapies for two undisclosed targets.

As per the deal, Immunogen will receive $20 million upfront and potential milestone payments of as much as $210 million per target.

The technology is used to create antibody drug conjugates that can deliver the cancer killing agents to affected cells. This targeted therapy helps to reduce side-effects that are common in chemotherapy.

"ADC technology is a critically important tool in addressing unmet needs in oncology. By partnering with Immunogen, we are able to leverage this important technology in Takeda's R&D program," Takeda oncology drug discovery chief, Mr Christopher Claiborne, said in a statement.