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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.20549
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FORM 8-K
CURRENT REPORT
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PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported): May 5, 2000
IMMUNOGEN, INC.
(Exact name of registrant as specified in its Charter)
Massachusetts 0-17999 04-2726691
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation File Number) Identification No.)
333 Providence Highway, Norwood, Massachusetts 02062
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (781) 769-4242
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ITEM 5. OTHER EVENTS
On May 4, 2000, ImmunoGen, Inc. and British Biotech plc announced a license
agreement to develop and commercialize ImmunoGen's huN901-DM1 tumor- activated
prodrug (TAP) for treatment of small-cell lung cancer (SCLC). British Biotech
has been granted the exclusive right to develop and commercialize huN901-DM1 in
the European Union and Japan. ImmunoGen retains the rights to commercialize
huN901-DM1 in the United States and the rest of the world, as well as the right
to manufacture the product worldwide. British Biotech paid an upfront fee of
$1.5 million for its territorial rights. Under the agreement, British Biotech is
responsible for conducting the clinical trials necessary to achieve regulatory
approval in the US, EU and Japan. ImmunoGen is responsible for the remaining
preclinical development, and will be reimbursed for manufacturing the product
for clinical trials. It is anticipated that a Phase I clinical trial will start
in the fourth quarter of this year. Upon regulatory approval of the product for
marketing in the US, ImmunoGen will pay British Biotech a one-time milestone
payment. ImmunoGen will receive royalties on sales of huN901-DM1 in the EU and
Japan.
The press release announcing the exclusive license agreement is incorporated
herein by reference and filed as exhibit 99.1 hereto.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(C) Exhibits.
99.1 The Registrant's Press Release dated May 5, 2000.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereto duly authorized.
ImmunoGen, Inc.
(Registrant)
Date: May 5, 2000 /s/Kathleen A. Carroll
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Kathleen A. Carroll
Vice President, Finance and
Administration, and principal
financial officer
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EXHIBIT INDEX
Exhibit Sequential
Number Description Page Number(s)
99.1 The Registrant's Press Release
dated May 5, 2000 5
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