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ImmunoGen TAPs into blue sky

ImmunoGen Inc.'s decision to partner its three most advanced preclinical compounds with Aventis S.A. was hardly made out of necessity. The company had $110 million in the bank at March 31 and burned only $17.2 million in the first nine months of its fiscal year. With only one other partnered compound in the clinic, it might seem logical to try to keep the upside on the next generation of products. But rather than risk building

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