CAMBRIDGE, Mass., Oct. 17 /PRNewswire/ -- ImmunoGen, Inc. (Nasdaq: IMGN) announced today that it has filed a registration statement with the Securities and Exchange Commission to sell 4,000,000 shares of its common stock (plus up to 600,000 shares to cover over-allotments, if any). All of the shares are being offered by the Company. The planned offering is being lead managed by SG Cowen Securities Corporation and co-managed by Robertson Stephens, Inc. and Adams, Harkness & Hill, Inc. Copies of the offering prospectus may be obtained, when available, from SG Cowen Securities Corporation, 1221 Avenue of the Americas, New York, NY, 10020, telephone number (212) 278-6000.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold and offers to buy may not be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy; and there will not be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state.
ImmunoGen, Inc. develops innovative biopharmaceuticals, primarily for cancer treatment. The Company creates potent tumor-activated prodrugs (TAPs), consisting of small molecule, cytotoxic drugs coupled to monoclonal antibodies for delivery to and destruction of cancer cells.
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 ImmunoGen's research strategy and 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 ImmunoGen'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.
Mitchel Sayare
Chairman and CEO, ImmunoGen
(617) 995-2500
http://www.immunogen.com
