AbbVie Gains Early Return on $10B Immunogen Purchase with Phase II Ovarian Cancer Success

AbbVie recently disclosed topline data from its Phase II PICCOLO trial, showcasing the potential of its newly acquired antibody-drug conjugate (ADC), Elahere (mirvetuximab soravtansine), in treating folate receptor-alpha-positive, platinum-sensitive ovarian cancer. The drug demonstrated significant efficacy, meeting its primary endpoint with a 51.9% objective response rate in heavily pretreated patients. Additionally, the median duration of response reached 8.25 months, a key secondary outcome of the trial.

Elahere's safety profile in the Phase II study was consistent with previous trials, with no new safety concerns identified. Angeles Alvarez Secord, a professor of obstetrics and gynecology at the Duke Cancer Institute, commented on the findings, indicating that these results reinforce Elahere's potential for treating platinum-sensitive ovarian cancer. She emphasized the ongoing unmet needs within this patient population, highlighting the decreasing efficacy and tolerability of each subsequent line of therapy, which underscores the necessity for alternative treatments.

Although AbbVie has not yet released the complete data from the PICCOLO trial, the company plans to present the detailed findings at a forthcoming medical conference. Originally developed by ImmunoGen, Elahere is a pioneering ADC that targets the folate receptor-alpha, commonly overexpressed in ovarian cancers. The ADC delivers a maytansinoid payload, DM4, a potent tubulin inhibitor that induces cancer cell death.

Elahere received accelerated approval from the FDA in November 2022 for treating platinum-resistant ovarian cancer and obtained full approval in March 2024. AbbVie acquired Elahere in November 2023 by purchasing ImmunoGen for $10.1 billion. In the first quarter of 2024, Elahere generated $64 million in global revenue for AbbVie, representing a partial quarter of sales following the acquisition's closure in February 2024. Before the acquisition, Elahere had brought in $105.2 million in net revenues for ImmunoGen during the third quarter of 2023.

AbbVie is also spearheading the Phase III GLORIOSA trial, which evaluates the efficacy of Elahere in combination with Genentech's Avastin (bevacizumab) as maintenance therapy for platinum-sensitive ovarian cancer patients following second-line platinum-doublet treatment. 

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