February 8, 2018 / 9:46 PM / 10 months ago

BRIEF-Immunogen Authorized Ramp-Down Of Activities At Norwood, MA

Feb 8 (Reuters) - Immunogen Inc:

* IMMUNOGEN - BOARD AUTHORIZED NEW OPERATING MODEL WHICH WILL LEAD TO RAMP-DOWN OF ACTIVITIES AT NORWOOD, MASSACHUSETTS FACILITY BY END OF 2018

* IMMUNOGEN SAYS FULL DECOMMISSIONING OF NORWOOD, MASSACHUSETTS FACILITY EXPECTED BY EARLY 2019 - SEC FILING

* IMMUNOGEN INC - IMPLEMENTATION OF NEW OPERATING MODEL WILL RESULT IN A NET REDUCTION OF WORKFORCE BY ABOUT 20 POSITIONS BY END OF 2018

* IMMUNOGEN INC IMPLEMENTATION OF NEW OPERATING MODEL EXPECTED TO CAUSE ONE-TIME CHARGE OF UP TO $2.5 MILLION FOR SEVERANCE Q1 OF 2018

* IMMUNOGEN INC - DECOMMISSIONING NORWOOD FACILITY WILL RESULT IN ANTICIPATED COST SAVINGS OF OVER $20 MILLION DURING NEXT FIVE YEARS Source text: (bit.ly/2nQoUF5) Further company coverage:

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