Nearly three years after refocusing the company to boost long-term value creation, ImmunoGen Inc. expects 2019 to be the year the changes will begin to bear fruit, starting with Phase III data from its lead candidate mirvetuximab soravtansine.
ImmunoGen was one of the first antibody-drug conjugate (ADC) companies when it was founded in 1981, and has since built up its coffers via discovery and development deals with pharma companies (see “TAP’s Big Finish”).
Its 2000 partnership with Roche has been its most successful, yielding breast cancer drug Kadcyla ado-trastuzuma, the only marketed ADC from its platform.
The expectation was that the revenues from pharma partnerships would allow ImmunoGen to build out its internal pipeline. The company’s deal structures, however, often left it with limited resources.
When President and CEO Mark Enyedy joined ImmunoGen in May 2016, he laid out four goals: strengthen the company’s financial position, advance its lead internal ADC mirvetuximab, accelerate a new class of payload that would offer more shots on goal in hematologic malignancies, and continue platform innovation via improved linker and tumor-targeting technologies.
He delivered on the first two goals by revamping ImmunoGen’s deal strategy and expanding the mirvetuximab program to include combination studies with SOC. ImmunoGen has