ImmunoGen ( IMGN Quick Quote IMGN - Free Report) announced a multi-year collaboration deal with a privately-held, clinical-stage oncology company, Oxford BioTherapeutics, for developing antibody-drug conjugates to address cancers of high unmet need.
Per the terms of the deal, the companies will utilize ImmunoGen's proprietary linker-payload technology to develop antibody-drug conjugates directed to novel targets identified via Oxford BioTherapeutics’ proprietary OGAP discovery platform. The research and development efforts related to the discovery of novel, first-in-class antibody-drug conjugates will be carried by the companies through joint funding.
Following the generation of antibody-drug conjugates, each company will have the option to choose and develop one or more development programs to further develop on its own. Each chosen program by one company will make the other company eligible for development and regulatory milestone payments as well as royalties on potential sales.
Oxford BioTherapeutics is also eligible to receive an upfront payment from ImmunoGen as part of the collaboration deal in exchange for the inclusion of its current preclinical programs in the collaboration.
Prior to this deal, Oxford BioTherapeutics used ImmunoGen’s ADC platform to develop its lead program, OBT076 — an antibody-drug conjugate being evaluated in clinical studies as monotherapy as well as in combination with checkpoint inhibitors — in patients with advanced or refractory solid tumors.
In the year so far, ImmunoGen’s stock price has declined 57.5% in comparison with the
industry’s 26% decline. Image Source: Zacks Investment Research
ImmunoGen’s biologics license application for its lead antibody-drug conjugate candidate, mirvetuximab soravtansine, is under review in the United States. The FDA granted priority review to the biologics license application seeking approval for the candidate as a treatment for platinum-resistant ovarian cancer last month. A decision related to the candidate’s potential approval is expected in November.
ImmunoGen is currently enrolling patients in another phase III study, MIRASOL, which is evaluating mirvetuximab as monotherapy for platinum-resistant ovarian cancer with FR alpha-high. Data from this study is anticipated in third-quarter 2022. The company will seek full approval for mirvetuximab soravtansine in the given indication based on MIRASOL study data.
The company is also developing mirvetuximab soravtansine as monotherapy for later-line platinum-sensitive ovarian cancer in a single-arm PICCOLO study. It is also evaluating mirvetuximab soravtansine in combination with cancer drugs as a potential treatment for ovarian cancer in different treatment settings.
Apart from mirvetuximab soravtansine, ImmunoGen is also developing pivekimab sunirine and IMGC936 in certain forms of blood cancers and solid tumors, respectively.
The deal with Oxford BioTherapeutics is likely to help ImmunoGen expand and diversify its research capabilities in the field of antibody-drug conjugates.
Zacks Rank & Stocks to Consider
ImmunoGen currently has a Zacks Rank #3 (Hold). You can see
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