ImmunoGen Retains PaineWebber for Strategic Partnerships

Strategic Insights -

ImmunoGen, a biopharmaceutical company, has engaged PaineWebber Inc. to help achieve its strategic partnering objectives. This partnership comes as a result of PaineWebber's prior experience as the lead underwriter in ImmunoGen's initial public offering and two subsequent offerings. ImmunoGen's Chairman and CEO, Mitchel Sayare, expressed confidence in PaineWebber's capabilities and shared enthusiasm for the potential of this new collaboration. With a rich pipeline of products, including Oncolysinr B in Phase III clinical trials, ImmunoGen is poised to make significant advancements in cancer treatment.

Key Takeaways:

  • ImmunoGen has retained the services of PaineWebber Inc. to assist in achieving strategic partnering objectives.
  • PaineWebber has a strong presence in the biopharmaceutical industry and has previously supported ImmunoGen through its underwriting of stock offerings.
  • ImmunoGen's pipeline includes five anticancer drugs, with Oncolysinr B currently in Phase III clinical trials.
  • The company has additional products in development that aim to improve the treatment of cancer patients.
  • ImmunoGen's subsidiary, Apoptosis Technology, Inc., is developing drugs that influence cell death and proliferation.
  • The company recognizes its strengths in bench research and preclinical product development but needs to tap additional resources to fully develop its technology platforms.
  • PaineWebber will provide expertise in financing and partnering in the biopharmaceutical industry to help ImmunoGen collaborate with other companies that offer synergies with their operations.

Statistics:

  • ImmunoGen has five anticancer drugs in its pipeline.
  • Oncolysinr B is currently in Phase III clinical trials.
  • ImmunoGen has conducted two subsequent offerings, both underwritten by PaineWebber.
  • Apoptosis Technology, Inc., manages a portfolio of products that influence cell death and proliferation.

Sources:

  • ImmunoGen press release, dated November 9, 1995.
  • Interview with Mitchel Sayare, Chairman and Chief Executive Officer of ImmunoGen.