ImmunoGen Earns Milestone with Bayer's Initiation of a Phase 2 Clinical Study Designed to Support Anetumab Ravtansine Registration
"We are excited that Bayer has advanced anetumab ravtansine into a
clinical study designed to support its registration," commented
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 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
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
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