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ImmunoGen Grabs $84M

Waltham, MA-based ImmunoGen (NASDAQ: IMGN), the developer of targeted antibody drugs for cancer, said today it has raised $84 million through a stock offering. The company sold 7 million new shares at $12 apiece. Jefferies & Co., Oppenheimer & Co., RBC Capital Markets, William Blair & Co., Canaccord Genuity and Morgan Joseph TriArtisan managed the offering. ImmunoGen had $115.8 million in cash on hand at the end of March, according to its most recent quarterly report.