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ImmunoGen Shares Gain Due To Second Genentech Licensing
Deal
LONDON April 28, 2005 - ImmunoGen, Inc. (IMGN) shares rose by 7.6% on volume
of 18,000 on Archipelago after the company Genentech (DNA) agreed to license
its tumor-activated pro drug technologies with therapeutic antibodies to an
undisclosed target. ImmunoGen already had a separate licensing agreement
with Genentech over the use of technology with antibodies to HER2. ImmunoGen
receives a $1 million license payment, and is entitled to receive milestone
payments; ImmunoGen also is entitled to receive royalties on the sales of
any resulting products.
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