Shares of ImmunoGen took off yesterday after the biotech announced that Genentech's launch of a mid-stage cancer trial for trastuzumab-DM1 would trigger a $5 million milestone payment. The drug, which is being developed to treat a certain kind of breast cancer, is a combination of ImmunoGen's cell-killing agent and an antibody from Genentech. Analysts called the start of the Phase II trial as a significant validation of ImmunoGen's technology. Genentech has a pact to use ImmunoGen's technology in its drug discovery work.
- see ImmunoGen's announcement [1]
- check out the AP report [2] for more info
Related Article:
Genentech touts pipeline prospects as doubts fester. Report [3]
ImmunoGen sweetens deal with Genentech. Report [4]
ImmunoGen gains funds under revised pact. Report [5]
Links:
[1] http://www.fiercebiotech.com/press-releases/press-release-immunogen-earns-milestone-start-trastuzumab-dm1-phase-ii-testing
[2] http://www.forbes.com/feeds/ap/2007/07/31/ap3971686.html
[3] http://www.fiercebiotech.com/story/genentech-touts-pipeline-prospects-as-doubts-fester/2007-06-28
[4] http://www.fiercebiotech.com/story/immunogen-sweetens-deal-with-genentech/2006-05-05
[5] http://www.fiercebiotech.com/story/immunogen-gains-funds-under-revised-pact/2006-08-31