BioPharma Credit notes AbbVie takeover of investee ImmunoGen

ImmunoGen, Inc. is a commercial-stage biotechnology company. The Company is focused on developing and commercializing of antibody- drug conjugates (ADCs) to improve outcomes for cancer patients. An ADC with the Company's technology comprises an antibody that binds to a target found on tumor cells and is conjugated to one of its potent anti-cancer agents as a payload to kill the tumor cell once the ADC has bound to its target. Its ELAHERE (Mirvetuximab Soravtansine) is a first-in-class ADC targeting folate receptor alpha (FRa), a cell-surface protein over-expressed in a number of epithelial tumors, including ovarian, endometrial, and non-small-cell lung cancers. Its Pivekimab sunirine (PVEK), is an ADC comprised of a high-affinity antibody designed to target CD123 with site-specific conjugation. The Company is advancing PVEK in clinical trials for patients with blastic plasmacytoid dendritic cell neoplasm (BPDCN) and acute myeloid leukemia (AML).