Turnaround ..
The interesting part is FDA asked ImmunoGen after their failed initial phase3 to run it on the subset patients with folate receptor treated by their ADC Elahere for advanced ovarian cancer as a result they got first their accelerated approval last year and now are applying for full approval, also planning to get the drug approved in Europe note in order for patients to be eligible for the drug they need to be pre screened for the receptor and a drug with with a black box warning for eye toxicity sold nearly $30 million in its first quarter.
Estimated market is about 5000 patients in the US and almost the same in the Europe.
When the initial phase3 failed they had to lay off 220 of 300 employees and the valuation of the company was crushed.
Point is a failed phase3 trial got accommodated by FDA for a cancer which hasn't had any approved drug for the last 7 years and that company trimmed their costs to keep the dream alive despite the initial failure. In R&D space despite all the problems it's not over till it's over even for late stage trials specifically for unmet conditions.
https://ca.finance.yahoo.com/news/elahere-demonstrates-overall-survival-benefit-103000721.html
As for partnerships see below:
"Examples of our partnerships include a strategic cross-licensing agreement with CytomX Therapeutics to develop ProbodyTM drug conjugate (PDC) therapies and a co-development and co-promotion collaboration with MacroGenics to develop a first-in-class ADAM9-targeting ADC.
LEGACY PLATFORM DEALS
Our technology platform has been the basis for a number of high-value partnerships for the company, including the first-ever ADC approved as a treatment option for HER2-positive breast cancer, which is marketed by Roche, called Kadcyla®.
In addition to Roche, we have ADC technology deals in place with Amgen, Bayer, and Sanofi."
Our Pipeline | ImmunoGen for ADC Technology-focused Cancer Treatment