ImmunoGen, Inc. Announces Proposed Public Offering of Common Stock
May 05 2010 - 3:01PM
Business Wire
ImmunoGen, Inc. (Nasdaq: IMGN), a biopharmaceutical company that
develops targeted anticancer therapeutics, announced today that it
intends to offer, subject to market and other conditions, 8,500,000
shares of its common stock in an underwritten public offering.
ImmunoGen expects to grant the underwriters a thirty (30) day
option to purchase up to 1,275,000 additional shares to cover
over-allotments, if any.
J.P. Morgan Securities Inc. is acting as the sole book-runner
for the offering.
The securities described above are being offered by ImmunoGen
pursuant to a registration statement previously filed and declared
effective by the Securities and Exchange Commission. This press
release does not constitute an offer to sell or a solicitation of
an offer to buy the securities in this offering. The offering may
be made only by means of a prospectus, copies of which may be
obtained, when available, from J.P. Morgan Securities Inc.,
Attention: Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, or by telephone at 1-866-803-9204.
About ImmunoGen, Inc.
ImmunoGen, Inc. develops targeted anticancer therapeutics using
its expertise in cancer biology, monoclonal antibodies and the
creation and attachment of potent cell-killing agents. The
Company’s Targeted Antibody Payload (TAP) technology uses
antibodies to deliver one of ImmunoGen’s potent cell-killing agents
specifically to tumor targets. In addition to the Company’s product
pipeline, compounds utilizing the TAP technology are in clinical
testing through ImmunoGen’s collaborations with Genentech (a wholly
owned member of the Roche Group), sanofi-aventis, Biogen Idec and
Biotest. The most advanced compound, T-DM1, is in Phase III
testing being conducted by Genentech/Roche. Other ImmunoGen
collaborative partners include Bayer HealthCare and Amgen.
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 public offering. A
review of these risks can be found in ImmunoGen’s Annual Report on
Form 10-K for the fiscal year ended June 30, 2009 and other reports
filed with the Securities and Exchange Commission.
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