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): October 2, 2006
ImmunoGen,
Inc.
(Exact
name of registrant as specified in its charter)
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Massachusetts
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0-17999
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04-2726691
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(State
or other
jurisdiction of incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification No.)
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128
Sidney Street,
Cambridge, MA 02139
(Address
of principal
executive offices) (Zip Code)
Registrant's
telephone
number, including area code: (617)
995-2500
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see
General
Instruction A.2.
below):
o Written
communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting
material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
ITEM
8.01 - OTHER
EVENTS
On
October 4, 2006, ImmunoGen, Inc. (Nasdaq: IMGN) announced that sanofi-aventis
has initiated clinical testing of AVE1642. AVE1642, a therapeutic antibody
that
binds to the Insulin-like Growth Factor 1 Receptor (IGF-1R), was developed
by
ImmunoGen and licensed to sanofi-aventis as part of a broader collaboration
between the companies. IGF-1R is a receptor that is overexpressed on many
different cancers. For each compound developed under this collaboration,
ImmunoGen is entitled to receive milestone payments that could potentially
total
$21.5 to $30 million, plus royalties on sales. The initiation of clinical
testing of AVE1642 triggers a $2 million milestone payment to
ImmunoGen.
A
copy
of the press release is attached to this current report on Form 8-K as Exhibit
99.1.
ITEM
9.01.
FINANCIAL STATEMENTS AND EXHIBITS
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Exhibit
No.
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Exhibit
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99.1
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Press
Release of
ImmunoGen, Inc. dated October 4, 2006
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2
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.
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ImmunoGen,
Inc.
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(Registrant)
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Date:
October 4, 2006
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/s/
Daniel M. Junius
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Daniel
M. Junius
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Executive
Vice President and Chief Financial Officer
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3
EXHIBIT
INDEX
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Exhibit
No.
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Exhibit
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99.1
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Press
Release of
ImmunoGen, Inc. dated October 4, 2006
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4
128
Sidney Street, Cambridge, MA 02139 TEL:
(617) 995-2500 FAX:
(617) 995-2510
Contacts
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Investors:
Carol
Hausner
Executive
Director,
Investor Relations and
Corporate
Communications
ImmunoGen,
Inc.
(617)
995-2500
info@immunogen.com
|
Media:
Kira
Gordon
KMorrisPR
(646)
243-4920
KiraGordon@earthlink.net
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For
Immediate
Release
ImmunoGen
Announces Initiation of Clinical Testing of AVE1642
Anticancer
Compound in Collaboration with sanofi-aventis
-
Event
Triggers $2 Million Milestone Payment to ImmunoGen -
CAMBRIDGE,
MA,
October 4, 2006
- ImmunoGen, Inc.
(Nasdaq: IMGN) today announced that sanofi-aventis has initiated clinical
testing of AVE1642, a therapeutic antibody that binds to the Insulin-like Growth
Factor 1 Receptor (IGF-1R). This event triggers a $2 million milestone
payment to ImmunoGen. AVE1642 is an anticancer compound that was developed
by
ImmunoGen and licensed to sanofi-aventis as part of a broader collaboration
between the companies.
“Two
compounds - AVE9633 and AVE1642 - created by ImmunoGen scientists are now in
clinical testing through our collaboration with sanofi-aventis,” commented
Mitchel Sayare, Chairman and CEO. “Additional anticancer agents are advancing
toward the clinic through this collaboration, including the SAR3419 compound
that ImmunoGen created for the treatment of B-cell malignancies.”
ImmunoGen
and
sanofi-aventis have an ongoing collaboration to discover, develop, and
commercialize novel anticancer products using ImmunoGen’s antibody expertise as
well as the Company’s Tumor-Activated Prodrug (TAP) technology. AVE1642 is an
unconjugated or “naked” antibody that targets IGF-1R, a receptor that is
overexpressed on many different cancers. AVE9633, a TAP compound, targets CD33
and is in clinical testing for the treatment of acute myeloid leukemia. SAR3419
is a CD19-targeting TAP compound that is in preclinical development for the
treatment of B-cell malignancies including non-Hodgkin’s lymphoma.
For
each compound in this collaboration, ImmunoGen is entitled to receive milestone
payments that could potentially total $21.5 to $30 million plus royalties on
sales. ImmunoGen also has certain co-promotion rights and receives manufacturing
payments for preclinical and initial clinical materials made on behalf of
sanofi-aventis. Additionally, the agreement provides ImmunoGen with committed
funding for the course of the research collaboration between the two companies.
About
ImmunoGen,
Inc.
ImmunoGen,
Inc. develops
targeted anticancer biopharmaceuticals. The Company’s proprietary TAP technology
uses tumor-targeting antibodies to deliver a potent cell-killing agent
specifically to cancer cells. Five anticancer compounds are in clinical testing
through ImmunoGen and the Company’s collaborators - huN901-DM1 and huC242-DM4,
which are wholly owned by ImmunoGen, AVE9633 and AVE1642, in development by
sanofi-aventis, and trastuzumab-DM1, in development by Genentech. Amgen
(formerly Abgenix), Biogen Idec, Biotest AG, Boehringer Ingelheim, Centocor,
Genentech, Millennium Pharmaceuticals, Inc., and sanofi-aventis have licensed
the right to develop and/or test TAP compounds to specific targets; ImmunoGen
also has a broader collaboration with sanofi-aventis.
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 Company’s development of its own
products, as well as to the development of products by our collaborators. A
review of these risks can be found in ImmunoGen’s Annual Report on Form 10-K for
the fiscal year ended June 30, 2006 and other reports filed with the Securities
and Exchange Commission.
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