In taking the top job at the Massachusetts-based cancer specialty biotech ImmunoGen Inc.Mark Enyedy supplements his reputation as a top industry deal-maker with a new assignment: turnaround artist. Since joining ImmunoGen in May 2016, the 53-year-old Harvard Law graduate and veteran of Shire PLC and Genzyme Corp. has pursued a course designed to protect the company’s essential raw material – a sound base in cutting-edge science – while shifting the business model decisively toward a future characterized by a tight focus on next-gen antibody drug conjugate (ADC) platforms that ImmunoGen intends to commercialize on its own.
In the following Q&A, Enyedy reflects on his experience as a big ticket deal spinner – supervising Shire’s purchase and integration of two multibillion-dollar companies, Baxalta Inc. and
ImmunoGen's Four-Step Restructure
- Lower general and administrative expenses
- Streamline manufacturing
- Enhance clinical operations
- Out-license B-cell lymphoma ADCs