It's my belief that the new trial should open the door to a partnership for IMGN653 shortly. I certainly hope IMGN maintains it's position that the U.S. is only theirs, it's a ROW partnership, while that won't be worth nearly as much to them short term, in the long term it gives them potential for much greater earning, and that's what's really needed for the sort of growth SGEN has demonstrated.
I believe that IMGN's drugs are all potentially blockbusters, but it's only of benefit to them if they share in the annual revenue. I understand that they've monetized most products, and this drug should still bring in lots of money in a partnership that doesn't include the U.S. I suspect IMGN would have been much better off if they had diluted, as SGEN did, at higher prices, and not monetized all their rights in drugs like Kadcyla. It's rather ironic that SGEN has a drug that appears to work well with Kadcyla, it's not a conjugate, and I believe they purchased it from someone else, but SGEN is now positioned to make more from Kadcyla then IMGN did in spite of the fact that it's IMGN's technology.
I believe a partnership will bring in all the funding necessary to bring forward all of IMGN pipeline drugs, and perhaps rehire some of those who IMGN laid off a few months ago.
Gary |
