Remove all text before and after

I want to sed....

lots of text <test1@test1.com> -> <test2@test2.com> more unwanted text

...so that the output is...

<test1@test1.com> -> <test2@test2.com>

How do I do that?

Is it all on one line?

On one line:
To discard everything before and after a specific pattern, do this:
suppose you have "teddy's daddy toted two dead toads to detroit", and you want to KEEP the pattern "two dead toads":

echo "teddy's daddy toted two dead toads to detroit" | sed -r 's/.*(two dead toads).*/\1/'