ImmunoGen hands drug rights to Sanofi

Attempting to right its financial course, ImmunoGen has handed over rights to several compounds to Sanofi in exchange for $30 million. The deal amends a long-running collaboration with Sanofi, which gains a license to assets including isatuximab, an antibody in Phase III studies for multiple myeloma, and SAR566658, an antibody-drug conjugate in Phase II trials for breast cancer. Last month, ImmunoGen took in another $30 million after Debiopharm bought the rights to IMGN529, an ADC in early-stage studies for B-cell cancers. Last September, ImmunoGen laid off 17% of its staff in an effort to save cash.