Biotech Values

[mcbio]

Re: IMGN

DNA took IMGN's linker tech and worked on it in-house to make the trastuzumab conjugate. Prior to that, IMGN's trials with their linker tech had failed and they noted specifically that they were getting side effects due to uncoupling of the toxin from the antibody.

Therefore, I think it is reasonable to question whether or not IMGN has unfettered access to the improved linker tech devised by DNA.

Fair point there PGS. I clearly don't think we can say that IMGN has unfettered access to the improved linker tech devised by DNA, but IMGN will be entitled to mid single-digit royalties on T-DM1, which still could be material if the drug turns out to be the blockbuster that some are predicting. I'm not certain about the linker technology being utilized by IMGN to develop the rest of the drugs within its pipeline and whether or not those prior failures seen with IMGN's linker tech are likely to be repeated with the rest of IMGN's pipeline. But, if T-DM1 is successful, IMGN can likely afford failures in the rest of its pipeline.