ImmunoGen Announces Resignation of Chief Financial Officer
27 November 2018 - 8:01AM
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 David B. Johnston has stepped down as Chief
Financial Officer of the Company, with immediate effect. Mr.
Johnston will remain employed with the Company through the end of
2018 and thereafter will serve as a consultant to provide
transitional support. David Foster, Vice President of Finance and
Chief Accounting Officer, will continue to oversee ImmunoGen’s
Finance and Accounting functions. Mark Enyedy, President and Chief
Executive Officer, will serve on an interim basis as the Company’s
principal financial officer, as well as lead its Investor Relations
function. A search has been initiated to identify a new Chief
Financial Officer.
“We thank Dave for his many contributions to ImmunoGen over the
last five years,” said Mark Enyedy. “He has built a first-rate
Finance team, continued to ensure a strong balance sheet and
disciplined investment strategy, and provided exceptional
leadership in a number of areas integral to our transition to a
fully integrated biotechnology company, including strategic
planning, investor relations, and financing transactions. We wish
him the best in his future.”
ABOUT IMMUNOGENImmunoGen is developing the next
generation of antibody-drug conjugates (ADCs) to improve outcomes
for cancer patients. By generating targeted therapies with enhanced
anti-tumor activity and favorable tolerability profiles, we aim to
disrupt the progression of cancer and offer our patients more good
days. We call this our commitment to “target a better now.” Our
lead product candidate, mirvetuximab soravtansine, is in Phase 3
study for folate receptor alpha (FRα)-positive platinum resistant
ovarian cancer, and in Phase 1b/2 testing in combination regimens.
Our novel IGN candidates for hematologic malignancies, IMGN779 and
IMGN632, are in Phase 1 studies.
Learn more about who we are, what we do, and how we do it at
www.immunogen.com.
This press release includes forward-looking statements,
including those on Mr. Johnston’s remaining employed through
year-end and then serving as a consultant, Mr. Foster continuing in
his role, ImmunoGen's ability to transition to a fully integrated
biotechnology company, and the regulatory and commercial potential
of our product candidates. Important 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 are current only as of the date of this release.
It should be noted that there are risks and uncertainties related
to the retention of employees and consultants, the development of
novel anticancer products, including risks related to preclinical
and clinical studies, their timings and results, the potential that
earlier clinical studies may not be predictive of future results,
and building a commercial organization. A review of these risks can
be found under “Risk Factors” in ImmunoGen's Annual Report on Form
10-K for the year ended December 31, 2017 and other reports filed
with the Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20181126005722/en/
INVESTOR RELATIONS CONTACTTHRUST Strategic
CommunicationsChelcie
Lister910-777-3049chelcie@thrustsc.comMEDIA CONTACTCourtney
O’Konek781-895-0600courtney.okonek@immunogen.comORFTI
ConsultingRobert
Stanislaro212-850-5657robert.stanislaro@fticonsulting.com
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