Waltham, Mass. –(Business Wire)–ImmunoGen, Inc. (Nasdaq: IMGN ), a leader in the expanding field of antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that Senior Vice President and Chief Financial Officer ( CFO) Dr. Susan Altschuller is on leave. Family and Medical Leave Act (FMLA) and will not continue to work at ImmunoGen after leave ends. Dr. Altschuller’s leave of absence is not related to the company’s financial or operating performance.
Renee Lentini, vice president of finance and chief accounting officer, has been named interim chief financial officer while the company searches for a permanent replacement for Dr. Altschuller. Since joining ImmunoGen in 2004, Lentini has held positions of increasing responsibility in the company’s finance department, including oversight of global accounting, tax and treasury.
“On behalf of the Board of Directors, I would like to thank Susan for her contributions to the company and wish her all the best. We have a strong finance team to support the business and will move quickly to begin the search for a new Chief Financial Officer,” said ImmunoGen President and CEO Mark Enyedy said. “With the recent FDA approval of ELAHERE™ (mirvetuximab soravtansine-gynx) for the treatment of platinum-resistant ovarian cancer, our top priority is the excellent execution of the launch in the U.S., and we look forward to a promising year as we market and advance our new ADC pipeline.”
About Immunogens
ImmunoGen is developing next-generation antibody drug conjugates (ADCs) to improve outcomes for cancer patients. By generating targeted therapies with enhanced anti-tumor activity and good tolerability, we aim to disrupt cancer progression and enable more good days for our patients. We call this our commitment to TARGET A BETTER NOW™.
Learn more about who we are, what we do and how we do it at www.immunogen.com.
About ELAHERE (MIRVETUXIMAB SORAVTANSINE-GYNX)
ELAHERE (mirvetuximab soravtansine-gynx) is a first-in-class ADC comprising a folate receptor alpha binding antibody, a cleavable linker and a maytansinoid payload DM4, a potent tubulin inhibitor designed to kill targeted cancer cell. Please view the full Prescribing Information for ELAHERE, including the Boxed Warning, here.
forward-looking statement
This press release contains forward-looking statements. These statements include, but are not limited to, ImmunoGen’s expectations regarding the commercial release of mirvetuximab. 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 speak only as of the date of this press release. Factors that could cause future results to differ materially from such expectations include, but are not limited to: the timing and results of the Company’s preclinical and clinical development processes; difficulties inherent in the development of new drugs, including the timing of preclinical studies, clinical trials and regulatory procedures , costs, and outcomes; the timing and outcome of the Company’s anticipated interactions with regulatory agencies, including the possibility that the FDA may determine that our mirvetuximab BLA is not eligible for accelerated approval; the risk that we may not be able to secure adequate pricing and reimbursement for any approved products , including possible delays or additional difficulties with mirvetuximab; the risk that the results of the ongoing MIRASOL trial may not support full approval of mirvetuximab, and if so, additional studies may be required; and the scale and duration of the COVID-19 pandemic related risks and uncertainties, and the resulting impact on ImmunoGen’s industry and business; and the company’s annual report on Form 10-K filed with the U.S. Quarterly Reports on Form 10-Q filed with the SEC, August 1, 2022 and November 4, 2022, and other reports filed with the SEC. Forward-looking statements in this news release speak only as of the date of this news 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.