- The business combination
transaction with Arya Sciences Acquisition Corporation, a special
purpose acquisition company sponsored by Perceptive Advisors, was
completed on July 1, 2020
- The combined company was renamed Immatics
N.V.
- Immatics common stock and warrants will commence
trading today on the Nasdaq Capital Markets under the ticker
symbols “IMTX” and “IMTXW”, respectively
- Proceeds from this transaction were approximately $250
million, combining funds held in Arya’s trust account and a
concurrent PIPE financing
Houston, Texas and Tuebingen, Germany,
July 2, 2020 – Immatics N.V. (NASDAQ: IMTX;
“Immatics”), a clinical-stage biopharmaceutical company active in
the discovery and development of T cell redirecting cancer
immunotherapies, today announced the completion of its business
combination with Arya Sciences Acquisition Corp. (NASDAQ: ARYA; or
“Arya”), a special purpose acquisition company (SPAC) sponsored by
Perceptive Advisors. Today, Immatics N.V. will commence trading its
shares under the symbol “IMTX” and its warrants under the symbol
“IMTXW” on the Nasdaq Capital Market. Proceeds from this
transaction were approximately $253 million, which included funds
held in Arya’s trust account and the common stock private
investment in public equity (PIPE) financing contributed by a group
of leading US healthcare institutional investors. The shareholders
of Arya approved the transaction on June 29, 2020, and none of
Arya’s shareholders redeemed their shares in connection with the
ARYA shareholder approval. The transaction had been previously
approved by Immatics shareholders. Immatics’ management team, led
by Chief Executive Officer Harpreet Singh, Ph.D., will continue to
run the combined company.
Harpreet Singh, Ph.D., Co-Founder and CEO of
Immatics, commented: “I would like to thank the team at Immatics,
our partners at Perceptive, existing Immatics and Arya
shareholders, the PIPE investors, and all our advisors for making
this transaction a success. It will provide us runway and
flexibility for our pursuit of unlocking new therapeutic options
for cancer patients by advancing our clinical and pre-clinical
programs for Adoptive Cell Therapies and TCR Bispecifics. Our
programs are directed against a range of targets that address
multiple rare as well as common cancers that have been hard to
treat.”
New investors supporting the transaction include
Perceptive Advisors, Redmile Group, Federated Hermes Kaufmann
Funds, RTW Investments and Sphera Funds, alongside existing
Immatics investors dievini Hopp BioTech, AT Impf and Wellington
Partners.
Adam Stone, Chief Investment Officer of
Perceptive Advisors and the Chief Executive Officer of Arya, added:
“Immatics’ technology platforms open up a breadth of novel targets
and therapeutic strategies that could help overcome some of the
challenges we have seen with immunotherapy to date. We believe that
the Immatics approach could provide truly novel opportunities for
patients in need and we look forward to supporting the Company as
it advances its key programs addressing solid tumors.”
Immatics is developing targeted immunotherapy
candidates based on its suite of technologies which enables the
identification of otherwise inaccessible intracellular protein
targets displayed on a cell’s surface. Accessing these targets is
generally recognized as an important key to unlocking hard-to-treat
cancers, particularly solid tumors. Immatics is leveraging this to
develop a pipeline of novel T cell receptor (TCR)-based products
designed to deliver a robust and specific T cell response against
cancer cells. Immatics’ international team, located in Munich and
Tuebingen, Germany, as well as in Houston, Texas, is committed to
advancing its proprietary therapeutic pipeline and collaboration
programs with global pharmaceutical leaders to address significant
unmet medical needs in oncology.
About this transactionOn March
17, 2020, Immatics, a privately held biotechnology company, entered
into a definitive business combination agreement with Arya, a
special purpose acquisition company (SPAC) sponsored by Perceptive
Advisors, that was created for the purpose of entering into a
business combination with a selected biopharmaceutical company and
bringing the combined entity to the NASDAQ.
As a result of the business combination,
Immatics received proceeds of approximately $253 million, prior to
transaction expenses, which includes cash proceeds of approximately
$149 million from Arya’s trust account and $104 million from PIPE
investors led by Perceptive Advisors, other top-tier US healthcare
investors and existing Immatics investors.
The description of the business combination
contained herein is only a high-level summary and is qualified in
its entirety by reference to the underlying documents filed with
the U.S. Securities and Exchange Commission. A more detailed
description of the terms of the transaction has been provided in a
registration statement on Form F-4 filed with the U.S. Securities
and Exchange Commission by Immatics.
AdvisorsGoldman Sachs
International is acting as lead financial advisor with SVB Leerink,
BofA Securities, and Kempen serving as financial advisors to
Immatics. Jefferies LLC is acting as lead financial and capital
markets advisor to Arya as well as sole private placement agent.
Chardan Capital Markets LLC is also serving as advisor to Arya.
Goodwin Procter LLP and CMS Legal Services EEIG are acting as legal
counsel to Immatics. Kirkland & Ellis LLP is serving as legal
counsel to Arya.
About ImmaticsImmatics combines
the discovery of true targets for cancer immunotherapies with the
development of the right T cell receptors with the goal of enabling
a robust and specific T cell response against these targets. This
deep know-how is the foundation for our pipeline of Adoptive Cell
Therapies and TCR Bispecifics as well as our partnerships with
global leaders in the pharmaceutical industry. We are committed to
delivering the power of T cells and to unlocking new avenues for
patients in their fight against cancer.
For regular updates about Immatics, visit
www.immatics.com. You can also follow us on Twitter and
LinkedIn.
About Arya Arya is a blank
check company incorporated as a Cayman Islands exempted company for
the purpose of effecting a merger, share exchange, asset
acquisition, share purchase, reorganization or similar business
combination with one or more businesses or entities.
Forward-Looking
StatementsCertain statements in this press release may be
considered forward-looking statements. Forward-looking statements
generally relate to future events or Immatics’ future financial or
operating performance. For example, statements concerning the
timing of product candidates and Immatics’ focus on partnerships to
advance its strategy are forward-looking statements. In some cases,
you can identify forward-looking statements by terminology such as
“may”, “should”, “expect”, “intend”, “will”, “estimate”,
“anticipate”, “believe”, “predict”, “potential” or “continue”, or
the negatives of these terms or variations of them or similar
terminology. Such forward-looking statements are subject to risks,
uncertainties, and other factors which could cause actual results
to differ materially from those expressed or implied by such
forward looking statements. These forward-looking statements are
based upon estimates and assumptions that, while considered
reasonable by Immatics and its management, are inherently
uncertain. New risks and uncertainties may emerge from time to
time, and it is not possible to predict all risks and
uncertainties. Factors that may cause actual results to differ
materially from current expectations include, but are not limited
to, various factors beyond management's control including general
economic conditions and other risks, uncertainties and factors set
forth in filings with the Securities and Exchange Commission (SEC).
Nothing in this presentation should be regarded as a representation
by any person that the forward-looking statements set forth herein
will be achieved or that any of the contemplated results of such
forward-looking statements will be achieved. You should not place
undue reliance on forward-looking statements, which speak only as
of the date they are made. Immatics undertakes no duty to update
these forward-looking statements.
- Immatics Announces Completion of Business Combination and
Listing on NASDAQ
- Immatics schließt Fusion mit Arya ab und gibt
US-Börsennotierung an der NASDAQ bekannt
For more information, please contact:
For Media Enquiries
Gretchen Schweitzer or Jacob Verghese, PhD
Trophic Communications
Phone: +49 89 2388 7731
immatics@trophic.eu
Investor Relations Contact
John Graziano
Solebury Trout
Phone: +1 646-378-2942
jgraziano@soleburytrout.com
Immatics N.V.
Anja Heuer
Corporate Communications
Phone: +49 89 540415-606
media@immatics.com
Jordan Silverstein
Head of Strategy
Phone: +1 281-810-7545
InvestorRelations@immatics.com
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