Phase 1 trial triggers $1M payment for ImmunoGen
Biotech firm ImmunoGen Inc. is in line for a $1 million milestone payment from sanofi-aventis, now that sanofi has launched a Phase 1 clinical trial of ImmunoGen’s SAR650984 investigational antibody.
The antibody targets cancer cells expressing the CD38 protein antigen and was developed under a five-year research collaboration between Waltham-based ImmunoGen and sanofi. It is being evaluated as a possible treatment for various blood tumors, including lymphocytic leukemia, myeloid leukemia, multiple myeloma and non-Hodgkin’s lymphoma.
According to ImmunoGen, preclinical testing has shown SAR650984 to be an effective anticancer agent. It is being evaluated in a Phase I, dose-escalation trial to establish its maximum tolerated dose and dose-limiting toxicities.
Last month, ImmunoGen (Nasdaq: IMGN) announced that it planned a $64.7 million stock offering.