In April 2014, Mersana announced that it has entered into a collaboration agreement with Millennium Pharmaceuticals., a wholly-owned subsidiary of Takeda Pharmaceutical Company Limited to develop next-generation ADCs. This collaboration will utilize Mersana's proprietary platform which is comprised of the company's biodegradable Fleximer polymer and a broad array of customizable linker chemistries matched to Mersana's diverse, cytotoxic payloads applied to proprietary target. Takeda is responsible for all product development and commercialization. Mersana received an upfront payment and is eligible to receive milestones and royalty payments.
In August 2012, Mersana announced a first of its kind alliance with Adimab which will enable next-generation ADC discovery and development for top 25 pharmaceutical companies. Through this collaboration, Adimab and Mersana will offer potential pharmaceutical partners integrated access to Adimab's world-class antibodies, which have been optimized for use in ADCs, together with Mersana's Fleximer polymer and broad array of customizable linkers for attaching diverse, potent payloads.
In March 2012, Mersana announced a collaboration, worth potentially more than $270 million, with Endo Pharmaceuticals to develop next-generation antibody-drug conjugates (ADCs) against a single cancer target using Mersana's proprietary conjugation technology. Under the terms of the agreement, Endo will pay an upfront fee to Mersana, who is responsible for conducting research and creating ADCs that are conjugates of the Company's diverse, highly potent cytotoxic payloads, its Fleximer polymer and custom linkers, and Endo's novel antibodies. Endo is responsible for product development, manufacturing and commercialization of any Fleximer-ADC products. Mersana and Endo may mutually agree to pursue two additional targets over the next two years. Mersana is eligible to receive progress-dependent milestones as well as royalties on worldwide net sales of any resulting ADC products.