Thursday February 25, 4:15 pm Eastern Time
Company Press Release
SOURCE: ImmunoGen, Inc.
ImmunoGen, Inc. CEO Provides Background on Recent Corporate Achievements at BIO CEO & Investor Conference
NEW YORK, Feb. 25 /PRNewswire/ -- Presenting at the Biotechnology Industry Organization (BIO) CEO & Investor conference today, Mitchel Sayare, Ph.D., Chairman and CEO of ImmunoGen, Inc. (Nasdaq: IMGN - news), discussed new preclinical data from studies of huN901-DM1, the Company's tumor activated prodrug (TAP) for small-cell lung cancer. In addition, Dr. Sayare reviewed ImmunoGen's recently announced exclusive license agreement with SmithKline Beecham Plc, London/SmithKline Beecham, Philadelphia (SmithKline) to jointly develop and commercialize the Company's lead anti-cancer TAP, huC242-DM1, potentially worth $45 million, exclusive of royalties.
Dr. Sayare presented initial data from preclinical studies of huN901-DM1, which showed that the compound, at a dose well below the maximum-tolerated dose, cured mice of human small-cell lung cancer. In an effort to examine combinations of agents that use different mechanisms to attack cancer cells, ImmunoGen researchers used lower, non-curative doses of huN901-DM1, combined with the chemotherapeutic, paclitaxel. This combination completely eradicated human small-cell lung cancer tumors in mice. The results were a significant improvement over either low doses of huN901-DM1 or the maximum tolerated dose of paclitaxel alone, or the currently-used combination of cisplatin and etoposide. The synergistic effect of huN901-DM1 plus paclitaxel may represent a promising potential treatment modality for small cell lung cancer.
''These data, similar to the results seen in preclinical studies with huC242-DM1, are encouraging, and position huN901-DM1 as an exciting, potential candidate to treat this aggressive cancer. The combination study offers an opportunity to consider multiple drug combinations to eradicate this disease, as we move this compound toward the clinic,'' stated Mitchel Sayare, Ph.D., Chairman and CEO of ImmunoGen, Inc. ''ImmunoGen will continue to develop huN901-DM1 in-house for the near-term.''
On the subject of the Company's colorectal product, Dr. Sayare added: ''Our collaboration with SmithKline serves as an endorsement of the huC242-DM1 product candidate and of ImmunoGen's tumor activated prodrug approach to treating cancer. We look forward to collaborating with SmithKline, one of the world's leading healthcare companies, on the development of huC242-DM1. The agreement will dramatically accelerate the clinical progress of huC242-DM1 and will provide us the financial wherewithal to continue the development of ImmunoGen's portfolio of tumor activated prodrugs.''
ImmunoGen, Inc. develops innovative biopharmaceuticals, primarily for cancer treatment. The Company has created potent tumor activated prodrugs, consisting of toxins or drugs coupled to monoclonal antibodies, for delivery to and destruction of cancer cells.
This press release includes forward-looking statements based on management's current expectations. Factors that could cause future results to differ materially from such expectations include, but are not limited to: the ability to secure future funding; the success of the Company's research strategy; the applicability of the discoveries made therein; the difficulties inherent in the development of pharmaceuticals, including uncertainties as to the timing and results of preclinical studies; uncertainty as to whether the Company's potential products will succeed in entering human clinical trials and uncertainty as to the results of such trials; uncertainty as to whether adequate reimbursement for these products will exist from government, private healthcare insurers and third-party payors; and the uncertainties as to the extent of future government regulation of the pharmaceutical business.
SOURCE: ImmunoGen, Inc.
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