Financings In Brief: ImmunoGen's Oncolysin

Executive Summary

ImmunoGen's Oncolysin: Company notes debenture funds will "buy us more time" to figure out how to achieve the needed number of patients for its Phase III trial of Oncolysin (Mab CD19 anti-B4-blocked ricin) for treatment of B-cell lymphomas and leukemias after autologous bone marrow transplantation. ImmunoGen says it is working on options to shorten the time to completion of the pivotal trial but will need "additional funds before these studies are completed." ImmunoGen may seek a corporate partner or some other relationship, the company says. Nearly 300 patients of an original estimate of 388 have been enrolled in the study so far, the company says; however, the accrual probably will have to be higher, the firm indicates. Of 55 sites enrolling patients, 40 are currently doing so...