U.S. Markets open in 8 hrs 19 mins

ImmunoGen names Aveo's Johnston as new CFO

WALTHAM, Mass. (AP) -- Drug developer ImmunoGen on Monday named David Johnston, who had been chief financial officer of Aveo Pharmaceuticals Inc., as its new CFO.

ImmunoGen's drug technology is used in Roche's breast cancer drug Kadcyla, which was approved in the U.S. in February and received European Union approval in November. ImmunoGen also has partnerships with other companies.

Gregory Perry resigned as ImmunoGen Inc.'s CFO in September. President and CEO Daniel Junius served as acting CFO.

Johnston, 58, has also worked for Genzyme.

Shares of Waltham, Mass.-based ImmunoGen dropped 30 cents, or 1.9 percent, to $15.07 in midday trading Monday.