ImmunoGen, Inc. Reports Fourth Quarter and Fiscal Year 2007 Financial Results

CAMBRIDGE, Mass.--(BUSINESS WIRE)--ImmunoGen, Inc. (Nasdaq: IMGN), a biopharmaceutical company that develops targeted anticancer therapeutics using its Tumor-Activated Prodrug (TAP) technology, today announced financial results for the three-month period and fiscal year ended June 30, 2007. Mitchel Sayare, Chairman and CEO, commented, “We’re seeing a marked increase in the momentum behind compounds that make use of our TAP technology. Last week, both our huC242-DM4 and Genentech’s trastuzumab-DM1 started Phase II testing, and in the coming months, we expect to have the data needed to determine the next steps in the clinical development of our huN901-DM1 compound. Over the next twelve months, we expect new clinical data to be reported with a number of TAP compounds and an additional two to four compounds to advance into clinical testing.”