Debiopharm International acquires clinical-stage ADC, ImmunoGen’s IMGN529/Debio 1562

Debiopharm International SA and ImmunoGen announced that Debiopharm has acquired ImmunoGen’s IMGN529/Debio 1562, a clinical-stage anti-CD37 ADC (antibody-drug conjugates) for the treatment of patients with B-cell malignancies, such as non-Hodgkin lymphomas (NHL).

Under the terms of the agreement, ImmunoGen received a $25 million upfront payment for IMGN529/Debio 1562 and is entitled to a $5 million milestone payment to be paid after completion of the transfer of ImmunoGen technologies related to the asset, which the parties expect to achieve by the end of 2017. In addition, ImmunoGen is eligible for a second success-based milestone payment of $25 million upon IMGN529/Debio 1562 entering a Phase 3 clinical trial.

IMGN529/Debio 1562 demonstrated evidence of anticancer activity in NHL in a Phase 1 monotherapy trial and successfully completed a safety run-in study in combination with Rituxan. The product is now ready to move forward into a Phase 2 trial in NHL, and particularly in DLBCL for which it has Orphan Drug status.

Debiopharm CEO, Bertrand Ducrey said that the purchase of IMGN529/Debio 1562 from a pioneer in the field of ADCs represents a strategic investment leveraging their expertise and track record in Oncology and supports their strong commitment to deliver targeted therapies and precision medicines to help patients suffering from severe diseases.

ImmunoGen president and  CEO, Mark Enyedy said that with a strong history of developing and bringing oncology drugs to market, Debiopharm offers the right mix of resources and capabilities to advance IMGN529/Debio 1562 through its next phase of development. Consistent with the strategic review of their portfolio undertaken last fall, this transaction further enables them to prioritize their development efforts on mirvetuximab soravtansine and their IGN programs, while generating near-term value from IMGN529/Debio 1562.