MacroGenics and AbbVie Discontinue Development of ADAM9 Antibody-Drug Conjugate (IMGC936)

1. MacroGenics and AbbVie have decided to halt the development of their jointly developed ADAM9-targeted antibody-drug conjugate (ADC), IMGC936, due to safety and efficacy concerns revealed in early data from solid tumor studies.
2. The phase 1 clinical trial results did not meet the pre-established benchmarks for further development of IMGC936.
3. MacroGenics had faced challenges with dose identification for IMGC936 during its development process.
4. Despite this setback, MacroGenics continues to believe in the potential of targeting ADAM9 and has another candidate, MGC028, which uses Synaffix’s linker-payload technology, currently undergoing preclinical testing.
5. MacroGenics plans to present preclinical data on MGC028 in April 2024, indicating specific dose-dependent in vivo antitumor activity in ADAM9-positive models such as gastric, lung, pancreatic, colorectal, and head and neck cancers.
6. AbbVie acquired ImmunoGen, the original partner of MacroGenics in developing IMGC936, through a $10.1 billion deal.
7. While the retreat from IMGC936 eliminates one pathway for additional value from the ImmunoGen acquisition, it does not affect the core case for that deal, including control over an approved FRα-directed ADC called Elahere.