ImmunoGen, the Waltham, MA-based developer of technology to make antibody drugs more potent, said today it has raised $33 million through a stock offering, after expenses. The company (NASDAQ: [[ticker:IMGN]]) sold 5 million shares at $7 apiece. Demand for ImmunoGen shares has climbed this year, after researchers presented promising clinical trial results of trastuzumab DM1, a drug co-developed by Genentech, Roche, and ImmunoGen, that’s made to be more potent than the original trastuzumab (Herceptin).
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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