Immunogen Sells Stock, Raises $25M

Biopharma company ImmunoGen, (NASDAQ: [[ticker:IMGN]]), of Waltham, MA, announced today that it has sold 7.8 million shares at $3.20 per share to Ziff Asset Management. ImmunoGen, which is expected to net approximately $24.7 million after expenses, has six anti-cancer drugs in clinical testing, four of them through collaborations with other pharma companies.

Author: Erik Mellgren

Erik Mellgren is a Swedish journalist who worked for Xconomy Boston in 2008 as part of the Stanford Innovation Journalism Fellowship program. He is a 26-year veteran of Ny Teknik, a leading technology and innovation magazine in Sweden. View all posts by Erik Mellgren