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New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-size:14pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="font-size:7pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Washington, D.C. 20549</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="font-size:7pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:18pt;font-weight:bold;text-align:center;margin:0pt;">FORM <ix:nonNumeric contextRef="Duration_2_14_2022_To_2_14_2022_QJUqeAfIXkSgUhH-ihwHYw" name="dei:DocumentType" id="Narr_nh5U8H_h5EK4uL0YegJ5Og">8-K</ix:nonNumeric></p><p style="font-family:'Times New 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Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">Registrant&#39;s telephone number, including area code: (<ix:nonNumeric contextRef="Duration_2_14_2022_To_2_14_2022_QJUqeAfIXkSgUhH-ihwHYw" name="dei:CityAreaCode" id="Narr_sxgLhZu9t0SWxT8_Bt9sqw">781</ix:nonNumeric>) <ix:nonNumeric contextRef="Duration_2_14_2022_To_2_14_2022_QJUqeAfIXkSgUhH-ihwHYw" name="dei:LocalPhoneNumber" id="Narr_ie8rTH7GQkqnOe6ehNXrqA">895-0600</ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:7pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<i style="font-style:italic;">see </i>General Instruction A.2. below):</p><p 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contextRef="Duration_2_14_2022_To_2_14_2022_QJUqeAfIXkSgUhH-ihwHYw" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="Tc_a4P2OwjmqEWxuYHlCw6xkA_2_5">Nasdaq Global Select Market</ix:nonNumeric></p></td><td style="vertical-align:top;width:0.19%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:18pt;margin:0pt;"><span style="font-size:7pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="font-size:7pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;">Emerging growth company <ix:nonNumeric contextRef="Duration_2_14_2022_To_2_14_2022_QJUqeAfIXkSgUhH-ihwHYw" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="Narr_PtqjMMHn0UeuZreK3I4AqA"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="font-size:7pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#160;<span style="font-family:'Segoe UI Symbol';">&#9744;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="font-family:'Segoe UI Symbol';visibility:hidden;">&#8203;</span></p><p style="display:none;font-size:12pt;line-height:0pt;text-align:justify;margin:0pt;"><span style="font-family:'Segoe UI Symbol';font-size:0pt;visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><a id="_c9cfc0e1_21ab_4957_9a06_346242ed6d62"></a><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:12pt 0pt 12pt 0pt;"><b style="font-weight:bold;white-space:pre-wrap;">Item 1.01  Entry into a Material Definitive Agreement</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-bottom:12pt;margin:12pt 0pt 0pt 0pt;">On February 14, 2022, ImmunoGen,&#160;Inc. (&#8220;ImmunoGen&#8221;) and Eli Lilly and Company (&#8220;Lilly&#8221;) entered into a License Agreement (the &#8220;License Agreement&#8221;), pursuant to which ImmunoGen granted Lilly worldwide exclusive rights to research, develop and commercialize antibody-drug conjugates (&#8220;ADCs&#8221;) based on ImmunoGen&#8217;s novel camptothecin technology.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;background:#ffffff;margin:0pt;"><span style="white-space:pre-wrap;">Under the terms of the License Agreement, ImmunoGen is entitled to receive an upfront payment of $13 million, reflecting initial targets selected by Lilly, and up to an additional $32.5 million if Lilly selects the maximum number of additional targets over the four year-period following the effective date of the License Agreement. In addition, Lilly will be obligated to pay ImmunoGen, on a target-by-target basis, development, regulatory and commercial milestones. In total, ImmunoGen could earn up to $1.7 billion in target selection fees and development, regulatory and commercial milestones if all targets are selected and all milestones are realized.  ImmunoGen is also eligible to receive tiered royalties, on a product-by-product basis, as a percentage of worldwide annual net sales by Lilly, based on certain net sales thresholds. Lilly is responsible for all costs related to the research and development of the compounds. In addition, under the License Agreement, ImmunoGen has granted Lilly certain intellectual property rights to enable Lilly to perform its obligations and exercise its rights under the License Agreement. </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;background:#ffffff;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;background:#ffffff;margin:0pt;">The License Agreement may be terminated by either party for a material breach by the other party, subject to notice and cure provisions, or in the event of the other party&#8217;s insolvency. Unless earlier terminated, the License Agreement will continue in effect until the expiration of Lilly&#8217;s royalty obligations, which are determined on a country-by-country basis. Lilly may terminate the License Agreement for convenience (i) in its entirety, (ii) on a target-by-target basis, or (iii) following regulatory approval, on a product-by-product basis, in each case by providing ninety (90) days&#8217; written notice to ImmunoGen. In the License Agreement, ImmunoGen made customary representations and warranties and agreed to customary covenants, including, without limitation, with respect to indemnification, for transactions of this type.</p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:0.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:10.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:89.8%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;background:#ffffff;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:126.65%;background:#ffffff;"><tr style="height:1pt;"><td style="vertical-align:top;width:100%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td></tr><tr><td style="vertical-align:top;width:100%;background:#ffffff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><b style="font-weight:bold;white-space:pre-wrap;">Item 7.01  Regulation FD&#160;Disclosure.</b></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;background:#ffffff;margin:6pt 0pt 0pt 0pt;">On February 15, 2022, ImmunoGen issued a press release announcing it entered into the License Agreement, a copy of which is being furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this Item 7.01 and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the&#160;Securities Act of 1933, as amended, or the&#160;Exchange Act, except as expressly set forth by specific reference in such filing.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-top:6pt;background:#ffffff;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;background:#ffffff;"><tr style="height:1pt;"><td style="vertical-align:top;width:0.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:14.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:85.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:55.63%;background:#ffffff;"><tr><td style="vertical-align:top;width:100%;background:#ffffff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><b style="font-weight:bold;white-space:pre-wrap;">Item 9.01  Financial Statements and Exhibits.</b></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><i style="font-style:italic;">(d) Exhibits</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="font-style:italic;visibility:hidden;">&#8203;</span></p><div style="padding-left:0.25pt;"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:11%;margin:0pt;padding:0.25pt 0.25pt 0.5pt 0.25pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:1.99%;margin:0pt;padding:0.25pt 0.25pt 0.5pt 0.25pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;width:86.99%;margin:0pt;padding:0.25pt 0.25pt 0.5pt 0.25pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:11%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.25pt 0.25pt 0.5pt 0.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Exhibit</b><b style="font-weight:bold;"><br /></b><b style="font-weight:bold;">No.</b></p></td><td style="vertical-align:bottom;width:1.99%;border-bottom:1.0pt solid transparent;margin:0pt;padding:0.25pt 0.25pt 0.5pt 0.25pt;"></td><td style="vertical-align:bottom;width:86.99%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.25pt 0.25pt 0.5pt 0.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Description</b></p></td></tr><tr><td style="vertical-align:top;width:11%;margin:0pt;padding:0.25pt;"></td><td style="vertical-align:top;width:1.99%;margin:0pt;padding:0.25pt;"></td><td style="vertical-align:top;width:86.99%;margin:0pt;padding:0.25pt;"></td></tr><tr><td style="vertical-align:top;width:11%;margin:0pt;padding:0.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">99.1</p></td><td style="vertical-align:top;width:1.99%;margin:0pt;padding:0.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:86.99%;margin:0pt;padding:0.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><a style="-sec-extract:exhibit;font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="imgn-20220214xex99d1.htm"><span style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">Press release of ImmunoGen, Inc. dated February 15, 2022</span></a></p></td></tr><tr><td style="vertical-align:top;width:11%;margin:0pt;padding:0.25pt;"></td><td style="vertical-align:top;width:1.99%;margin:0pt;padding:0.25pt;"></td><td style="vertical-align:top;width:86.99%;margin:0pt;padding:0.25pt;"></td></tr><tr style="height:2.55pt;"><td style="vertical-align:top;width:11%;margin:0pt;padding:0.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">104</p></td><td style="vertical-align:top;width:1.99%;margin:0pt;padding:0.25pt;"></td><td style="vertical-align:top;width:86.99%;margin:0pt;padding:0.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;">Cover Page Interactive Data File (embedded within the Inline XBRL (eXtensible Business Reporting Language) document)</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:12pt 0pt 12pt 0pt;"><span style="font-size:10pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><a id="_05dd1170_d466_488a_99cb_022e0e144907"></a><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">SIGNATURE</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="font-weight:bold;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">ImmunoGen, Inc. </b></p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;">Date: February 16, 2022</p></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">/s/ Renee Lentini____________________ </span></p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;">Renee Lentini</p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;">Vice President and Chief Accounting Officer</p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:avoid;width:79.3%;border:0;"></div></body></html>
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{"company-data": {"conformed-name": "ImmunoGen, Inc.", "cik": "0000855654", "assigned-sic": "2834", "irs-number": "042726691", "state-of-incorporation": "MA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-17999", "film-number": "22644355"}, "business-address": {"street1": "830 WINTER ST", "city": "WALTHAM", "state": "MA", "zip": "02451", "phone": "(781)895-0600"}, "mail-address": {"street1": "830 WINTER ST", "city": "WALTHAM", "state": "MA", "zip": "02451"}, "former-company": {"former-conformed-name": "IMMUNOGEN INC", "date-changed": "19920703"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
​
Washington, D.C. 20549
​
FORM
8-K
​
CURRENT REPORT
​
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
​
Date of Report (Date of earliest event reported):
February 14, 2022
​
ImmunoGen, Inc.
(Exact name of registrant as specified in its charter)
​
​
​
​
​
​
​
Massachusetts
0-17999
04-2726691
​
​
(State or other jurisdiction of
incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
​
830 Winter Street
,
Waltham,
MA
02451
(Address of principal executive offices)   (Zip Code)
​
Registrant's telephone number, including area code: (
781
)
895-0600
​
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
​
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
​
Securities registered pursuant to Section 12(b) of the Act:
​
​
​
​
​
​
​
​
Title of Each Class
Trading Symbol
Name of Each Exchange on Which Registered
​
​
Common Stock, $.01 par value
​
IMGN
​
Nasdaq Global Select Market
​
​
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
​
Emerging growth company
☐
​
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
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Item 1.01  Entry into a Material Definitive Agreement
On February 14, 2022, ImmunoGen, Inc. ("ImmunoGen") and Eli Lilly and Company ("Lilly") entered into a License Agreement (the "License Agreement"), pursuant to which ImmunoGen granted Lilly worldwide exclusive rights to research, develop and commercialize antibody-drug conjugates ("ADCs") based on ImmunoGen's novel camptothecin technology.
Under the terms of the License Agreement, ImmunoGen is entitled to receive an upfront payment of $13 million, reflecting initial targets selected by Lilly, and up to an additional $32.5 million if Lilly selects the maximum number of additional targets over the four year-period following the effective date of the License Agreement. In addition, Lilly will be obligated to pay ImmunoGen, on a target-by-target basis, development, regulatory and commercial milestones. In total, ImmunoGen could earn up to $1.7 billion in target selection fees and development, regulatory and commercial milestones if all targets are selected and all milestones are realized.  ImmunoGen is also eligible to receive tiered royalties, on a product-by-product basis, as a percentage of worldwide annual net sales by Lilly, based on certain net sales thresholds. Lilly is responsible for all costs related to the research and development of the compounds. In addition, under the License Agreement, ImmunoGen has granted Lilly certain intellectual property rights to enable Lilly to perform its obligations and exercise its rights under the License Agreement.
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The License Agreement may be terminated by either party for a material breach by the other party, subject to notice and cure provisions, or in the event of the other party's insolvency. Unless earlier terminated, the License Agreement will continue in effect until the expiration of Lilly's royalty obligations, which are determined on a country-by-country basis. Lilly may terminate the License Agreement for convenience (i) in its entirety, (ii) on a target-by-target basis, or (iii) following regulatory approval, on a product-by-product basis, in each case by providing ninety (90) days' written notice to ImmunoGen. In the License Agreement, ImmunoGen made customary representations and warranties and agreed to customary covenants, including, without limitation, with respect to indemnification, for transactions of this type.
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Item 7.01  Regulation FD Disclosure.
On February 15, 2022, ImmunoGen issued a press release announcing it entered into the License Agreement, a copy of which is being furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this Item 7.01 and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
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Item 9.01  Financial Statements and Exhibits.
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(d) Exhibits
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Exhibit
No.
Description
99.1
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Press release of ImmunoGen, Inc. dated February 15, 2022
104
Cover Page Interactive Data File (embedded within the Inline XBRL (eXtensible Business Reporting Language) document)
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SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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ImmunoGen, Inc.
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Date: February 16, 2022
/s/ Renee Lentini____________________
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Renee Lentini
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Vice President and Chief Accounting Officer
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