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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): March 18, 1997
ImmunoGen, Inc.
(Exact name of registrant as specified in its charter)
Massachusetts 0-17999 04-2726691
(State or other jurisdiction (Commission file number) (IRS Employer
of incorporation) Identification No.)
333 Providence Highway, Norwood, Massachusetts 02062
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (617) 769-4242
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ITEM 5. OTHER EVENTS.
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On March 18, 1997, the Registrant publicly disseminated a press release
announcing that development of its drug candidate, Oncolysin B, is being
discontinued based on analysis of preliminary data from its Phase III
clinical trial which found that Oncolysin B offered no advantage, when
compared to the control arm of the study, in lymphoma patients following
autologous bone marrow transplantation.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
- ------- ----------------------------------
(c) Exhibits.
99.1 The Registrant's Press Release date March 18, 1997.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ImmunoGen, Inc.
(Registrant)
Date: March 18, 1997 /s/Frank J. Pocher
Frank J. Pocher
Executive Vice President,
Operations, and principal
financial officer
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EXHIBIT INDEX
Exhibit Sequential
Number Description Page Number(s)
99.1 The Registrant's Press Release Dated
March 18, 1997 5 and 6
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Contact: Mitchel Sayare
Chairman, CEO
ImmunoGen, Inc.
(617) 769-4242
or
Gretchen L.P. Schweitzer or
Lucy Morrison
Feinstein Partners Inc.
(617) 577-8110
For Immediate Release
IMMUNOGEN ENDS DEVELOPMENT OF ONCOLYSIN B
_________________
To Focus on Colorectal Cancer, Small-Cell Lung Cancer and Apoptosis Technology
_________________
Cambridge, MA, March 18, 1997--ImmunoGen, Inc. announced today that based on
analysis of preliminary data from the Phase III trial of Oncolysin B, it will
discontinue development of the drug candidate. It is the company's intention
to focus its resources on potential products under development for the
treatment of colorectal cancer, small-cell lung cancer, and on drug
development based on proprietary apoptosis screens.
Oncolysin B was studied in a 47-center, Phase III clinical trial funded by the
National Cancer Institute for the treatment of lymphoma patients, in which the
drug is used subsequent to autologous bone marrow transplantation. The
preliminary data, reviewed by an independent data monitoring committee, after
the enrollment of 155 patients, indicated that Oncolysin B offered no
advantage when compared to the control arm of the study.
"In light of the promise shown by our other compounds in preclinical
development," said Mitchel Sayare, ImmunoGen CEO, "the continued development
of this complex drug with ambiguous results is beyond ImmunoGen's resources."
Mr. Sayare continued that, based on the company's strong patent position and
its accumulated understanding of monoclonal antibody conjugates, it may seek a
collaborator or licensee to continue the development of Oncolysin B at some
time in the future.
ImmunoGen is developing a drug candidate for the treatment of colorectal
cancer based on targeting the powerful chemotherapeutic agent DM1 directly to
cancer cells through its attachment to an antibody that binds to a protein
found on the surface of tumor cells. By linking the antibody to DM1,
ImmunoGen has produced a product that is 100-times more potent than
established cytotoxic agents in animal tests. In published mouse studies,
this product completely eliminated transplanted human colon tumors. ImmunoGen
currently has two patents covering the use of DM1 in conjugated forms. The
company plans to begin human trials of this therapeutic in 1998.
Based on these encouraging data from colorectal cancer studies, ImmunoGen is
delivering DM1 directly to small-cell lung cancer with a humanized version of
an antibody that specifically binds to small-cell lung cancer cells. In
preclinical studies, this product eradicated small-cell lung cancer tumors in
mouse models. ImmunoGen is evaluating this product in advanced preclinical
studies and is seeking a corporate partner to assist in its clinical
development.
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Apoptosis Technology, Inc., founded by ImmunoGen in 1993, has identified
several key proteins which regulate apoptosis in cancer cells. Apoptosis is
the natural process by which human cells die to protect the body against the
spread of disease. In cell disorders such as cancer, this mechanism does not
function properly, allowing destructive cancer cells to proliferate. Based
on its discoveries, ATI has developed proprietary screens to identify leads
for continued drug development.
ImmunoGen, Inc. (NASDAQ: IMGN) is developing innovative biopharmaceuticals for
the treatment of cancer. The company has created potent immunoconjugates
consisting of drugs coupled to monoclonal antibodies for delivery to and
destruction of cancer cells.
This press release includes forward-looking statements reflecting management's
current expectations based on its research. Various factors could cause future
results to differ materially from these expectations, including, but not
limited to: the availability of continued funding; uncertainties associated
with early-stage research and development; the risk of technological change
and competition; and other difficulties inherent in the development of new
pharmaceutical products.
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