ImmunoGen shores up cash position with amended Sanofi deal

31 May 2017

USA-based ImmunoGen (Nasdaq: IMGN) and French company Sanofi (Euronext: SAN) have amended agreements covering all compounds in development using the former company's technology.

ImmunoGen, which specializes in anticancer treatments in the field of antibody-drug conjugates (ADCs), has been working with Sanofi for well over a decade.

Chief executive Mark Enyedy said: “Amending these agreements allows us to continue to focus on the development of our lead program, mirvetuximab soravtansine, while advancing our earlier-stage portfolio and further strengthening ImmunoGen’s cash position.”

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