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12:00 AM
Aug 04, 2003
 |  BioCentury  |  Strategy

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 on its clinical capabilities, the company has chosen to off-load clinical development so it can pursue new discovery technologies.
Indeed, last week's deal means that virtually all clinical development using the antibody company's tumor-activated prodrug technology (TAP) is in the hands of partners. But according to CEO Mitchell Sayare, this gives new degrees of freedom to the company, which was founded in 1981.
"By relieving ourselves of the burden of part of our pipeline it leaves us the opportunity to broaden...

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