ImmunoGen Earns Milestone with Bayer’s Initiation of a Phase 2 Clinical Study Designed to Support Anetumab Ravtansine Regis...
January 26 2016 - 6:30AM
Business Wire
ImmunoGen, Inc. (Nasdaq: IMGN), a biotechnology company that
develops targeted anticancer therapeutics using its antibody-drug
conjugate (ADC) technology, today announced the Company earned a
milestone payment with Bayer’s initiation of a global Phase 2
clinical study designed to support registration of anetumab
ravtansine (BAY 94-9343). Anetumab ravtansine, a
mesothelin-targeting ADC, is a potential new treatment for
mesothelioma developed by Bayer using ImmunoGen’s ADC
technology.
“We are excited that Bayer has advanced anetumab ravtansine into
a clinical study designed to support its registration,” commented
Daniel Junius, President and CEO. “There is a significant need for
new therapies for mesothelioma, and ImmunoGen is committed to
transforming the treatment of difficult cancers – both through our
own product programs and through partnerships with other
companies.”
Bayer is developing anetumab ravtansine under a 2008 license
agreement with ImmunoGen that granted the company exclusive rights
to use ImmunoGen’s maytansinoid ADC technology to develop
anticancer therapies targeting mesothelin. Bayer is responsible for
the development, registration, and commercialization of anetumab
ravtansine. ImmunoGen is entitled to receive milestone payments
potentially totaling up to $170 million and royalties on
commercial sales, if any.
About ImmunoGen, Inc.
ImmunoGen is a clinical-stage biotechnology company that
develops targeted anticancer therapeutics with its proprietary ADC
technology. The Company’s lead product candidate, mirvetuximab
soravtansine, is a potential treatment for folate receptor
α-positive ovarian cancers and other solid tumors. A number of
major healthcare companies have licensed limited rights to use
ImmunoGen’s ADC technology to develop novel anticancer therapies;
it is used in Roche’s marketed product, Kadcyla®. More information
about the Company can be found at www.immunogen.com.
Kadcyla® is a registered trademark of Genentech, a member of the
Roche Group.
This press release includes forward-looking statements. For
these statements, ImmunoGen claims the protection of the safe
harbor for forward-looking statements provided by the Private
Securities Litigation Reform Act of 1995. It should be noted that
there are risks and uncertainties related to the development of
novel anticancer products, including anetumab ravtansine, including
risks related to clinical studies, regulatory reviews, and product
commercialization, their timings and results. A review of these
risks can be found in ImmunoGen’s Annual Report on Form 10-K for
the fiscal year ended June 30, 2015 and other reports filed with
the Securities and Exchange Commission.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160126005283/en/
For Investors:ImmunoGen, Inc.Carol Hausner,
781-895-0600info@immunogen.comorFor Media:Michael Lampe,
484-575-5040michael@michaellampeconsulting.com
ImmunoGen (NASDAQ:IMGN)
Historical Stock Chart
From Aug 2024 to Sep 2024
ImmunoGen (NASDAQ:IMGN)
Historical Stock Chart
From Sep 2023 to Sep 2024