Immatics Announces First Bristol Myers Squibb Opt-in of TCR-T Candidate from Ongoing Multi-target Strategic Collaboration
May 01 2023 - 7:00AM
- Bristol Myers Squibb exercised its
first option and entered into a global license agreement with
Immatics for the most advanced TCR-T product candidate from the
companies’ ongoing collaboration to develop four TCR-based adoptive
cell therapies targeting solid tumors
- Immatics to receive an option
payment of $15 million and is eligible for additional up to $490
million in milestone payments in addition to tiered royalties on
net sales of the product
Tuebingen, Germany
& Houston, May 1, 2023 – 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 that
Bristol Myers Squibb (NYSE:BMY) has exercised its option and
entered into an exclusive worldwide license for the first T cell
receptor engineered T cell therapy (TCR-T) candidate from their
ongoing collaboration.
Under the terms of the 2019 multi-target
strategic collaboration agreement, which was expanded in 2022,
Immatics is developing and validating four TCR-T targets and
product candidates through the lead TCR candidate stage. Bristol
Myers Squibb can exercise opt-in rights and assume sole
responsibility for further worldwide development, manufacturing,
and commercialization of the TCR-T cell therapies. This first
opt-in is for a novel TCR-T product candidate against a target
relevant in multiple solid tumor indications. Immatics to receive
an option exercise fee of $15 million.
“The opt-in decision by Bristol Myers Squibb is
an example of the success of our ongoing collaboration. The
partnership’s goal is to leverage Immatics’ ability to develop
innovative cell therapies that have the potential to deliver future
breakthrough therapies for patients,” commented Harpreet Singh,
Ph.D., CEO and Co-Founder of Immatics. “We remain committed to
making a meaningful impact on the lives of cancer patients and we
look forward to further advancing our own pipeline programs as well
as our product candidates being developed with Bristol Myers Squibb
and other partners.”
The TCR-T programs developed within the
collaboration are directed against solid tumor targets discovered
by Immatics using its proprietary XPRESIDENT® technology combined
with its XCEPTOR® TCR discovery and engineering platform to
identify specific TCRs against these targets. For each program,
Immatics is eligible for up to $505 million in option exercise fee,
regulatory and commercial milestone payments, as well as additional
tiered royalties on net sales of the licensed product.
– END –
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 Instagram, Twitter and
LinkedIn.
Forward-Looking Statements
Immatics:Certain 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 SEC. Nothing in this press release 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. All the scientific and clinical data
presented within this press release are – by definition prior to
completion of the clinical trial and a clinical study report –
preliminary in nature and subject to further quality checks
including customary source data verification.
For more information, please contact:
Media and Investor Relations Contact |
Eva Mulder or Charlotte Spitz |
Trophic Communications |
Phone: +31 6 52 33 15 79 |
immatics@trophic.eu |
Immatics N.V. |
|
|
Anja Heuer |
|
Jordan Silverstein |
Senior Director, Corporate Communications |
|
Head of Strategy |
Phone: +49 89 540415-606 |
|
Phone: +1 281 810 7545 |
media@immatics.com |
|
InvestorRelations@immatics.com |
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