This paragraph out of his story, where did this come from?
What most investors don't realize, however, is that Roche radically re-engineered the Immunogen linker and chemotherapy to make Kadcyla work. This was proprietary work done by Roche that hasn't extended to Immunogen's other ADC drug candidates.
He is correct, most investors do not know this because it has never ever been disclosed. I am calling IMGN today to enquire about this, because if this is true it does indeed imply the conclusions he has drawn in this article.
I did read from the IV web site that Roche evaluated various linkers and ruled some out (including the one used in 901) In fact, after reading that I caled IMGN IR and asked a very pointed question about Roche working on the linker and ruling out the type of linker used in 901 and was told by IR something to the effect "linkers vary in their properties and they test various linkers and select the right one.
AF Stating that they radically re-engineered the linked and chemo seems misleading and a blatant attempt to place in doubt all of the IMGN-owned compounds. Even if all 3 wholly-owned compounds needed to be re-engineered, which is doubtful, they still have partnership compounds with AMGN, LLY, Sanofi and Bayer.
901 is old technology, but AF"s article has tainted, or called into question the entire pipeline and technology. IMGN execs should have anticipated this and scheduled a CC to differentiate 901 from their newer drugs. Let us know what you hear from Carol and co, but frankly I don't trust her, or Junius. I did just send another note to the BOD Members calling for an emergency meeting, replacement of Junius, IR and development execs, hiring of an interim CEO, prefer Pien and requesting they consider all options for maximizing shareholder value!
He is vicious and a pawn of shorters, and completely unethical. He does it time and time again, and the truth is not in him.. He almost single-handidly brought down MELA (a medical devices company), and it will probably fail as an ongoing company because of his attacks. The end result being that a device that would have allowed early detection of melanomas will likely not be available to the medical field despite FDA approvals. I loathe the man.
I have sent email to IMGN asking if the statement is true ("Roche radically re-engineered ...). I have asked IMGN if, in the event it is not true, if they are pursuing legal action against AF for libel and if not, why not. I suggest all investors do likewise.