CAMBRIDGE, Mass., Sept. 21 /PRNewswire/ -- ImmunoGen, Inc. (Nasdaq: IMGN) today announced that huC242-DM1/SB-408075, its lead Tumor-Activated Prodrug (TAP) for the treatment of colorectal and pancreatic cancers, has entered a second Phase I/II clinical trial. The Company's partner, SmithKline Beecham (SB), is conducting the study. As a result of treating the first patient in the study, ImmunoGen has received a $2.0 million cash payment.
This dose-escalating, multi-dose study is designed to establish the safety of huC242-DM1/SB-408075 when administered weekly and is being conducted at the University of Chicago Cancer Research Center under the direction of Richard L. Schilsky, M.D. To be included in the study are patients suffering from refractory colorectal and pancreatic cancer, and possibly non-small-cell lung cancer. Another Phase I/II clinical trial is ongoing at the Institute for Drug Development of the Cancer Therapy and Research Center, San Antonio, Texas.
"The initiation of this multi-dose Phase I/II trial by SB is an important step forward for ImmunoGen," said Mitchel Sayare, Ph.D., Chairman and CEO of ImmunoGen, Inc. "We believe huC242-DM1/SB-408075 has the potential to be a breakthrough therapy for these severely ill cancer patients."
Thus far in its agreement with SB, ImmunoGen has achieved five milestones and received payments totaling $14 million.
ImmunoGen, Inc. develops innovative biopharmaceuticals, primarily for cancer treatment. The Company has created potent tumor-activated prodrugs, consisting of drugs coupled to monoclonal antibodies for delivery to and destruction of cancer cells. Besides SmithKline Beecham, the Company has collaborative arrangements with Genentech and British Biotech.
This press release includes forward-looking statements based on management's current expectations. Factors that could cause future results to differ materially from such expectations include, but are not limited to: the ability to secure future funding; the success of the Company's research strategy; the applicability of the discoveries made therein; the difficulties inherent in the development of pharmaceuticals, including uncertainties as to the timing and results of preclinical studies; delayed achievements of milestones; reliance on collaborators; uncertainty as to whether the Company's potential products will succeed in entering human clinical trials and uncertainty as to the results of such trials; uncertainty as to whether adequate reimbursement for these products will exist from the government, private healthcare insurers and third-party payors; and the uncertainties as to the extent of future government regulation of the pharmaceutical business.
CONTACT:
Mitchel Sayare, Ph.D.
Chairman and CEO
ImmunoGen, Inc.
(617) 995-2500
http://www.immunogen.com
MEDIA CONTACT
Gretchen L. P. Schweitzer
Wendy Soutsos
Feinstein Kean Healthcare
(617) 577-8110
http://www.fkhealth.com
