ImmunoGen (IMGN) Inks Mirvetuximab Development Deal in China

ImmunoGen, Inc. IMGN announced that it has entered into a strategic collaboration with Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd., a wholly-owned subsidiary of China-based Huadong Medicine, granting exclusive rights to develop and commercialize mirvetuximab soravtansine (mirvetuximab) in Greater China — which includes mainland China, Hong Kong, Macau, and Taiwan.

Please note that ImmunoGen is developing its antibody drug conjugate (“ADC”), mirvetuximab, as a single-agent therapy for platinum-resistant ovarian cancer in two phase III studies. The company is also developing the candidate in combination regimens for ovarian cancer.  The company is targeting a potential launch in 2022.

Per the terms of the agreement, ImmunoGen will receive an upfront payment of $40 million. The company is also eligible to receive additional milestone payments of up to $265 million related to certain development, regulatory, and commercial objectives. Huadong Medicine will also pay Immunogen royalties as a percentage of potential mirvetuximab commercial sales in Greater China.

Meanwhile, Huadong Medicine will be responsible for developing mirvetuximab in Greater China as well as for potential regulatory submissions and commercialization of the candidate in the territory. However, a joint steering committee comprising individuals from both companies will look after these activities. Huadong Medicine may also participate in global clinical studies of mirvetuximab conducted by ImmunoGen.

Following the agreement, ImmunoGen will retain all rights to mirvetuximab in the rest of the world (outside Greater China) and will continue to be responsible for the development and commercialization of mirvetuximab in the United States and other geographies.

Moreover, this collaboration with Huadong Medicine will allow ImmunoGen to access its partner’s extensive regional experience, the right development and regulatory capabilities, as well as a deep local network of hospitals and clinics across Greater China. These factors will help ImmunoGen to accelerate development path and potential commercialization of its potential ovarian cancer therapy in the second largest pharmaceutical market in the world.

Shares of ImmunoGen were up 3.4% in after-market trading on Oct 19, following the announcement. The company’s shares have gained 10.6% so far this year against the industry’s 6.1% decline.

Apart from its lead pipeline candidate mirvetuximab, ImmunoGen is also developing its novel CD123-targeted ADC, IMGN632, in several forms of blood cancer. Two phase II studies are evaluating IMGN632 in combination with Bristol-Myers’ BMY Vidaza and Roche/AbbVie’s ABBV Venclexta in patients with relapsed/refractory AML. Another study is evaluating IMGN632 as a monotherapy for treating minimal residual disease in AML patients following frontline induction therapy. The company is developing IMGN632 in collaboration with Jazz Pharmaceuticals JAZZ for CD123-positive hematologic malignancies. The candidate is also being developed for treating relapsed/refractory blastic plasmacytoid dendritic cell neoplasm.

ImmunoGen, Inc. Price

ImmunoGen, Inc. Price

ImmunoGen, Inc. price | ImmunoGen, Inc. Quote

Zacks Rank

ImmunoGen currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

These Stocks Are Poised to Soar Past the Pandemic

The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.

Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.

See the 5 high-tech stocks now>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Bristol Myers Squibb Company (BMY): Free Stock Analysis Report
Jazz Pharmaceuticals PLC (JAZZ): Free Stock Analysis Report
ImmunoGen, Inc. (IMGN): Free Stock Analysis Report
AbbVie Inc. (ABBV): Free Stock Analysis Report
To read this article on click here.
Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics


Latest Markets Videos


    Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at

    Learn More