ImmunoGen Announces Non-Dilutive Term Loan Financing for Up to $175 Million with Pharmakon Advisors
ImmunoGen to Receive $75 Million Upon Execution of the Agreement; Eligible to Receive up to an Additional $100 Million in Near-Term Proceeds
Waltham, MA – April 6, 2023 – ImmunoGen, Inc. (Nasdaq: img src='https://www.sec.gov/Archives/edgar/data/855654/000155837023005515/https://www.sec.gov/Archives/edgar/data/855654/000155837023005515/imgn-20230406xex99d1001.jpg' alt="Graphic" style="display:inline-block;height:30.6pt;left:0%;padding-bottom:0pt;position:relative;top:0pt;width:158.65pt;">
FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements. These statements include, but are not limited to, ImmunoGen's expectations related to the timing and presentation of clinical data from the MIRASOL trial; and the Company's business and product development strategies. Various factors could cause ImmunoGen's actual results to differ materially from those discussed or implied in the forward-looking statements, and you are cautioned not to place undue reliance on these forward-looking statements, which are current only as of the date of this release. Factors that could cause future results to differ materially from such expectations include, but are not limited to: the timing and outcome of the Company's preclinical and clinical development processes; the results of the ongoing MIRASOL trial may fail to support full approval of ELAHERE and, if not, additional studies may be required; the difficulties inherent in the development of novel pharmaceuticals, including uncertainties as to the timing, expense, and results of preclinical studies, clinical trials, and regulatory processes; the timing and outcome of the Company's anticipated interactions with regulatory authorities; the risk that we may not be able to obtain adequate price and reimbursement for any approved products, including the potential for delays or additional difficulties for ELAHERE in light of the FDA granting accelerated approval; risks and uncertainties associated with the scale and duration of the COVID-19 pandemic and the resulting impact on ImmunoGen's industry and business; and other factors as set forth in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2023 and other reports filed with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date of this press release. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as may be required by applicable law.
INVESTOR RELATIONS CONTACT
ImmunoGen
Anabel Chan
781-895-0600
anabel.chan@immunogen.com
MEDIA CONTACTS
ImmunoGen
Courtney O'Konek
781-895-0600
courtney.okonek@immunogen.com
OR
FTI Consulting
Robert Stanislaro
212-850-5657
robert.stanislaro@fticonsulting.com