ImmunoGen raises $100M

ImmunoGen Inc. (NASDAQ:IMGN) raised $100 million through the sale of 6.3 million shares at $16 in a follow-on underwritten by Morgan Stanley; Jefferies; Oppenheimer; RBC Capital Markets; William Blair; Cowen; and Summer Street Research Partners. ImmunoGen proposed the offering late Wednesday, when its share price was $17.36. The company was off $1.35 to $16.01 on Thursday.

Since the end of 2Q12, biotech companies have raised at least $321 million in follow-ons, including a $100 million offering on Tuesday by Synageva BioPharma Corp. (NASDAQ:GEVA). ...