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ImmunoGen, Inc. Announces 2015 Outlook for Product PipelineImmunoGen, Inc. (NASDAQ: IMGN), a biotechnology company that develops targeted anticancer therapies using its antibody-drug conjugate (ADC (News - Alert)) technology, today announced ImmunoGen expectations for its product pipeline in 2015 that Company management will be discussing at the 33rd Annual J.P. Morgan Healthcare Conference starting tomorrow. "We expect the potential of ImmunoGen as a product company to become more clearly established in 2015, principally based on progress with our lead experimental therapies - IMGN853 for ovarian and endometrial cancers and IMGN529 for diffuse large B-cell lymphoma and other B-cell malignancies," commented Daniel Junius, President and CEO. "During 2015, we also expect a number of meaningful events through our many partnerships, including data presentations, development events, and additional ADCs with our technology advancing into the clinic." Wholly Owned Product Candidates IMGN853 - the first and only folate receptor a (FRa)-targeting ADC to advance to clinical testing.
IMGN529 - the first ADC for B-cell malignancies with an antibody demonstrating potent anticancer activity preclinically, and the first to target CD37.
IMGN779 - the first ADC utilizing one of ImmunoGen's new DNA-acting payload agents.
Partner Compounds ImmunoGen partners include Amgen, Bayer HealthCare, Biotest, CytomX, Genentech/Roche, Lilly, Novartis, and Sanofi.
Cash Position ImmunoGen will report the financial results on January 30, 2015 for the quarter ended December 31, 2014, the second quarter of the Company's 2015 fiscal year, but noted that it ended the quarter with approximately $107 MM in cash and marketable securities, and had no debt. About ImmunoGen, Inc. ImmunoGen, Inc. develops targeted anticancer therapeutics. The Company's ADC technology uses tumor-targeting antibodies to deliver an ImmunoGen cell-killing agent specifically to cancer cells; the Company has also developed antibodies with anticancer activity of their own. The first product with ImmunoGen's ADC technology is Roche's Kadcyla®. ImmunoGen has three wholly owned product candidates in clinical testing with additional compounds in clinical testing through the Company's partnerships with Amgen, Bayer HealthCare, Biotest and Sanofi. More information about ImmunoGen 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 ImmunoGen wholly owned and partner compounds, including risks related to preclinical testing, clinical studies and regulatory interactions, 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, 2014 and other reports filed with the Securities and Exchange Commission.
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