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Debiopharm International SA Enters the Field of Antibody-Drug Conjugates Through Acquisition of Phase II Asset from ImmunoGen

Geschrieben am 24-05-2017

Lausanne, Switzerland and Waltham, Mass. (ots) - Transaction adds
innovative clinical-stage program to expanding Debiopharm portfolio
and broadens its clinical development expertise Divestiture aligns
with ImmunoGen's focus on strategic growth initiatives and generates
near-term value

Debiopharm International SA (Debiopharm - www.debiopharm.com),
part of Debiopharm Group(TM), a Switzerland-based biopharmaceutical
company, and ImmunoGen, Inc. (Nasdaq: IMGN), a leader in the
expanding field of antibody-drug conjugates (ADCs) for the treatment
of cancer, today announced that Debiopharm has acquired ImmunoGen's
IMGN529/Debio 1562, a clinical-stage anti-CD37 ADC for the treatment
of patients with B-cell malignancies, such as non-Hodgkin lymphomas
(NHL).

Under the terms of the agreement, ImmunoGen received a $25 million
upfront payment for IMGN529/Debio 1562 and is entitled to a $5
million milestone payment to be paid after completion of the transfer
of ImmunoGen technologies related to the asset, which the parties
expect to achieve by the end of 2017. In addition, ImmunoGen is
eligible for a second success-based milestone payment of $25 million
upon IMGN529/Debio 1562 entering a Phase 3 clinical trial.

"The purchase of IMGN529/Debio 1562 from a pioneer in the field of
ADCs represents a strategic investment leveraging our expertise and
track record in Oncology and supports our strong commitment to
deliver targeted therapies and precision medicines to help patients
suffering from severe diseases" stated Bertrand Ducrey, CEO of
Debiopharm.

"IMGN529/Debio 1562 has already generated compelling clinical data
and we look forward to further exploring it in combination with
Rituxan®, which could provide an attractive alternative to
conventional chemotherapies for patients with NHL such as diffuse
large-cell B-cell lymphoma (DLBCL)," said Chris Freitag, Vice
President of Clinical Research & Development of Debiopharm.
IMGN529/Debio 1562 demonstrated evidence of anticancer activity in
NHL in a Phase 1 monotherapy trial and successfully completed a
safety run-in study in combination with Rituxan®. The product is now
ready to move forward into a Phase 2 trial in NHL, and particularly
in DLBCL for which it has Orphan Drug status.

"With a strong history of developing and bringing oncology drugs
to market, Debiopharm offers the right mix of resources and
capabilities to advance IMGN529/Debio 1562 through its next phase of
development," stated Mark Enyedy, President and Chief Executive
Officer of ImmunoGen. "Consistent with the strategic review of our
portfolio undertaken last fall, this transaction further enables us
to prioritize our development efforts on mirvetuximab soravtansine
and our IGN programs, while generating near-term value from
IMGN529/Debio 1562."

About Debiopharm International SA

Part of Debiopharm Group(TM) - a Swiss-headquartered global
biopharmaceutical group including five companies active in the life
science areas of drug development, GMP manufacturing of proprietary
drugs, diagnostic tools and investment management - Debiopharm
International SA focuses on developing prescription drugs that target
unmet medical needs. The company in-licenses and develops promising
drug candidates. The products are commercialized by pharmaceutical
out-licensing partners to give access to the largest number of
patients worldwide.

For more information, please see www.debiopharm.com

We are on Twitter. Follow @DebiopharmNews at
http://twitter.com/DebiopharmNews

About ImmunoGen, Inc.

ImmunoGen is a clinical-stage biotechnology company that develops
targeted cancer therapeutics using its proprietary ADC technology.
ImmunoGen's lead product candidate, mirvetuximab soravtansine, is in
a Phase 3 trial for FR?-positive platinum-resistant ovarian cancer,
and is in Phase 1b/2 testing in combination regimens for
earlier-stage disease. ImmunoGen's ADC technology is used in Roche's
marketed product, Kadcyla®, in three other clinical-stage ImmunoGen
product candidates, and in programs in development by partners Amgen,
Bayer, Biotest, CytomX, Lilly, Novartis, Sanofi and Takeda. More
information about the Company can be found at www.immunogen.com.
Kadcyla® and Rituxan® are the registered trademarks of their
respective owners.

This press release includes forward-looking statements. For these
statements, ImmunoGen claims the protection of the safe harbor for
forward-looking statements provided by the Private Securities
Litigation Reform Act of 1995. It should be noted that there are
risks and uncertainties related to the development of novel
anticancer products, including IMGN529/Debio 1562, including risks
relating related to clinical studies, their timing and results. A
review of these risks can be found in ImmunoGen's Annual Report on
Form 10-K for the six-month period ended December 31, 2016 and other
reports filed with the Securities and Exchange Commission.



Pressekontakt:
Debiopharm International SA
Contact
Christelle Tur
Communications Coordinator
christelle.tur@debiopharm.com
Tel.: +41 (0)21 321 01 11

ImmunoGen
Contact Monique
Allaire Thrust
IR monique@thrustir.com
Tel.: 617-895-9511

Robert Stanislaro
FTI Consulting, Inc.
robert.stanislaro@fticonsulting.com
Tel.:212-850-5657

Original-Content von: Debiopharm International SA, übermittelt durch news aktuell


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