ImmunoGen Announces Proposed Public Offering of Common Stock
ImmunoGen intends to use the net proceeds of the offering, together with its existing capital, to fund its operations, including, but not limited to, research and development activities, clinical trial activities, manufacturing and supply of drug substance and drug products, commercialization preparation, acquisitions of new technologies, capital expenditures and working capital.
Jefferies,
The securities described above are being offered by ImmunoGen pursuant
to a shelf registration statement that was previously filed with and
declared effective by the
About ImmunoGen
ImmunoGen is a clinical-stage biotechnology company that develops
targeted cancer therapeutics using its proprietary antibody-drug
conjugate (ADC) technology. The Company's lead product candidate,
mirvetuximab soravtansine, is in a Phase 3 trial for FRα-positive
platinum-resistant ovarian cancer, and is in a Phase 1b/2 trial in
combination regimens for earlier-stage disease. ImmunoGen has three
additional clinical-stage compounds, two of which Jazz Pharmaceuticals
has exclusive, worldwide rights to opt into development and
commercialization. ImmunoGen's ADC technology is also used in Roche's
marketed product, Kadcyla® and in programs in development by
Amgen, Bayer, Biotest, CytomX,
Kadcyla® is a registered trademark of
This press release includes forward-looking statements, including
statements related to the proposed public offering of securities by
ImmunoGen, including the anticipated use of proceeds therefrom. 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. Various factors could cause actual results to
differ materially from those discussed or implied in the forward-looking
statements, and you are cautioned not to place undue reliance on these
forward-looking statements, which are current only as of the date of
this release. Factors that could cause future results to differ
materially from such expectations include, but are not limited to: the
uncertainties related to market conditions and the completion of the
public offering on the anticipated terms or at all, uncertainties
inherent in the initiation of future clinical trials and such other
factors more fully described in ImmunoGen's transition report on Form
10-K for the six-month period ended
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For Investors
sarah.kiely@immunogen.com
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Media
Courtney O'Konek, 781-895-0158
courtney.okonek@immunogen.com
or
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Robert Stanislaro, 212-850-5657
robert.stanislaro@fticonsulting.com
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