What ImmunoGen does

ImmunoGen is a Waltham, Massachusetts-based biotechnology company founded in 1981 that develops antibody-drug conjugates (ADCs) for targeted cancer therapy. Its proprietary ADC platform couples monoclonal antibodies to cytotoxic payloads via proprietary linker chemistry, enabling selective delivery of cell-killing agents to tumors while limiting systemic toxicity. The company's flagship product, ELAHERE (mirvetuximab soravtansine-gynx), is a folate receptor-alpha (FOLR1)-targeted ADC approved by the FDA for the treatment of folate receptor-alpha positive platinum-resistant ovarian cancer — the first ADC approved in this indication. A second ADC from ImmunoGen's pipeline received FDA approval for an ultra-rare blood cancer following AbbVie's acquisition. The company monetizes through specialty oncology drug sales priced and distributed via specialty pharmacies, hospital channels, and oncology specialty distributors.

In April 2023, ImmunoGen secured up to $175 million in non-dilutive term loan financing from Pharmakon Advisors (initial draw $75M) to support ELAHERE commercialization and pipeline development. In February 2024, AbbVie completed its acquisition of ImmunoGen for approximately $10.1 billion, making ImmunoGen a wholly-owned subsidiary and integrating its ADC platform and ELAHERE into AbbVie's oncology franchise. At acquisition, ImmunoGen employed 501–1,000 people and was led by CEO Mark J. Enyedy, with Stephen C. McCluski as Chairman, Lauren White as SVP & CFO, Fabian Zohren as Chief Medical Officer, and Kristen Harrington Smith as SVP & Chief Commercial Officer. Post-acquisition, ImmunoGen's products are commercialized through AbbVie's global pharmaceutical distribution and oncology infrastructure rather than as a standalone entity.

Name

ImmunoGen

Website

https://immunogen.com

Company type

Private

Founded year

1981

Operating status

Acquired

Headcount range

501–1,000 employees

Short description

ImmunoGen is a clinical-stage and commercial biopharmaceutical company developing antibody-drug conjugates (ADCs) for targeted cancer therapy, with ELAHERE approved for platinum-resistant ovarian cancer. Acquired by AbbVie in February 2024 for ~$10.1 billion.

Ownership category

akta.pro rank

Product category

Oncology Therapeutics

NAICS

Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Antibody-Drug Conjugates (ADCs) & Antibody Conjugates (HLAAAAAE)

Keywords

• Antibody-drug conjugates
• Cancer therapeutics
• Oncology biologics
• Targeted antibody therapy
• ADC platform

Headquarters

HQ city

Waltham

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Supply Chain

Core offering

ImmunoGen researched, developed, and commercialized antibody-drug conjugate (ADC) therapeutics for the treatment of cancer, with its flagship product ELAHERE (mirvetuximab soravtansine-gynx), a folate receptor-alpha-targeted ADC approved by the FDA for platinum-resistant ovarian cancer. The company's offering centered on its proprietary ADC technology platform that enables targeted delivery of cytotoxic payloads to cancer cells expressing specific antigens while sparing healthy tissue.

Product overview

ImmunoGen was a biopharmaceutical company specializing in the development of antibody-drug conjugates (ADCs) for cancer treatment. The company's core product portfolio centered on ELAHERE (mirvetuximab soravtansine-gynx), a folate receptor-alpha-targeted ADC approved for platinum-resistant ovarian cancer. ImmunoGen operated its proprietary ADC technology platform to develop targeted oncology therapies. Following AbbVie's acquisition in February 2024, ImmunoGen's pipeline and technology became part of AbbVie's oncology segment.

Differentiator

Problem solved

Functional benefit

Products and services

• ELAHERE (mirvetuximab soravtansine-gynx) A folate receptor-alpha-targeted antibody-drug conjugate (ADC) approved by the FDA for the treatment of platinum-resistant ovarian cancer. It was ImmunoGen's flagship commercial product, delivering a cytotoxic payload directly to cancer cells expressing folate receptor alpha.
• ADC Technology Platform ImmunoGen's proprietary antibody-drug conjugate technology platform used to develop targeted cancer therapies by coupling antibodies to cytotoxic payloads for targeted delivery to cancer cells.

Quantifiable outcome

• ELAHERE received FDA approval for platinum-resistant ovarian cancer, representing a significant treatment advancement for patients with limited options

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Others

• Pfizer:

Direct peers

• ADC Therapeutics: Clinical-stage biotech focused exclusively on ADC development, with loncastuximab tesirine (Zynlonta) approved for relapsed/refractory DLBCL. Directly comparable to ImmunoGen as a smaller pure-play ADC developer targeting oncology indications.
• Seagen (now Pfizer): Seagen was a leading independent ADC developer (Adcetris, Padcev, Tukysa) acquired by Pfizer for ~$43B in 2023. Directly comparable to ImmunoGen as a pure-play ADC platform with approved oncology products and a pipeline of targeted antibody conjugates.
• Daiichi Sankyo: Japanese pharma that developed the DXd ADC technology platform behind Enhertu and Datroway (partnered with AstraZeneca). Directly comparable to ImmunoGen as a leader in next-generation ADC payload/linker chemistry with multiple approved oncology products.
• Gilead Sciences (Kite / Immunomedics): Gilead acquired Immunomedics for ~$21B to obtain Trodelvy (sacituzumab govitecan), a Trop-2-targeted ADC. Directly comparable to ImmunoGen as a large-cap pharma leveraging ADC assets to expand its oncology franchise.

Emerging players

• Mersana Therapeutics: Clinical-stage ADC company developing next-generation antibody conjugates using proprietary Dolasynthen and Immunosynthen platforms. Comparable to ImmunoGen as an emerging ADC innovator with platform differentiation targeting solid tumors.
• ProfoundBio: Clinical-stage ADC developer focused on next-generation antibody conjugates for solid tumors, including FRα and other targets. Comparable to ImmunoGen as an emerging ADC competitor pursuing overlapping oncology indications.

Broad incumbents

• Roche: Global oncology leader with multiple targeted therapy franchises and an expanding ADC pipeline (e.g., Polivy, partnered programs). Comparable to AbbVie as a competing large pharma developing targeted oncology biologics and ADCs.
• Bristol Myers Squibb: Large-cap oncology incumbent with multiple approved biologics (Opdivo, Yervoy) and an active ADC strategy through partnerships and internal programs. Comparable to AbbVie as a competing diversified pharma integrating ADC assets into broader oncology portfolios.
• AstraZeneca: AstraZeneca co-develops and commercializes Enhertu and Datroway with Daiichi Sankyo, making it a major player in the ADC space alongside broader oncology operations. Comparable to AbbVie (ImmunoGen's parent) as a large oncology incumbent leveraging ADC partnerships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/immunogeninc
• LinkedInlinkedin.com/company/immunogen-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds8 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ImmunoGen