- New multi-program collaboration to develop
allogeneic TCR-T/CAR-T programs brings together Immatics’
allogeneic gamma delta T cell therapy platform ACTallo® with
Bristol Myers Squibb’s technologies and oncology drug development
expertise
- Immatics to receive upfront payment of $60
million and additional milestone payments of up to $700 million per
program plus tiered royalty payments of up to low double-digit
percentages on net product sales across multiple programs under the
new collaboration
- Per 2019 agreement, Bristol Myers Squibb to
also add one additional autologous TCR-T target where Immatics will
receive an upfront payment of $20 million and be eligible for
milestone payments and royalties
Immatics N.V. (NASDAQ: IMTX, “Immatics”), a clinical-stage
biopharmaceutical company active in the discovery and development
of T cell-redirecting cancer immunotherapies, and Bristol Myers
Squibb (NYSE: BMY), today announced that they have expanded their
strategic alliance to pursue the development of multiple allogeneic
off-the-shelf TCR-T and/or CAR-T programs.
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Under this collaboration, Bristol Myers Squibb and Immatics will
develop two programs owned by Bristol Myers Squibb and both
companies have an option to develop up to four additional programs
each. The programs will utilize Immatics’ proprietary gamma delta T
cell-derived, allogeneic Adoptive Cell Therapy (ACT) platform,
called ACTallo®, and a suite of next-generation technologies
developed by Bristol Myers Squibb.
Under the terms of this agreement, Immatics will receive an
upfront payment of $60 million as well as up to $700 million per
Bristol Myers Squibb program through development, regulatory and
commercial milestone payments and tiered royalty payments of up to
low double-digit percentages on net product sales. Immatics will be
responsible for preclinical development of the initial two Bristol
Myers Squibb-owned programs and will receive additional payment for
certain activities that Immatics could perform at Bristol Myers
Squibb’s request. Bristol Myers Squibb will assume responsibility
for clinical development and commercialization activities of all
Bristol Myers Squibb-owned programs thereafter.
In addition, Bristol Myers Squibb and Immatics will expand their
2019 collaboration agreement focused on autologous T cell
receptor-based therapy (TCR-T), with the inclusion of one
additional TCR target discovered by Immatics. As part of this
expansion, Immatics will receive an upfront payment of $20 million
and be eligible for milestone payments and royalties.
“The expansion of our collaboration with Bristol Myers Squibb
significantly advances our allogeneic cell therapy development
strategy,” commented Harpreet Singh, Ph.D., Chief Executive Officer
and Co-Founder of Immatics. “We welcome opening another chapter of
our work with a trusted partner and the expertise and capabilities
both companies provide in cell therapy development to create novel
medicines for cancer patients.”
“Today’s announcement represents an important part of our
continued investment in next generation cell therapies that have
the potential to provide transformative outcomes to patients with
cancer,” said Rupert Vessey, M.A., B.M., B.Ch., FRCP, D.Phil.,
Executive Vice President, Research & Early Development, Bristol
Myers Squibb. “We are excited to expand our collaboration with
Immatics that allows us to combine their novel off-the-shelf
platforms with our industry-leading research and manufacturing
expertise in cell therapy to develop new allogeneic cell therapy
treatments to potentially help patients with solid tumor
malignancies.”
About ACTallo®
ACTallo® is Immatics’ proprietary allogeneic, off-the-shelf
adoptive cell therapy platform based on gamma delta T cells sourced
from healthy donors. Our manufacturing process is designed to
create hundreds of doses from one single donor leukapheresis. Gamma
delta T cells are abundant in the peripheral blood, show intrinsic
anti-tumor activity, naturally infiltrate solid tumors and do not
cause graft-vs-host disease – characteristics that make this cell
type well suited for an allogeneic approach. The ACTallo® process
engineers gamma delta T cells with chimeric antigen receptors
(CARs) or T cell receptors (TCRs), thus accessing cancer cell
surface targets as well as intracellular proteins that are
presented as peptides on the surface of the cancer cell. This
enables the redirection of gamma delta T cells to cancer cell
targets. ACTallo® products will be available for patient treatment
without the requirement for personalized manufacturing. Since these
T cells originate from healthy individuals, they are not reliant on
the potentially encumbered immune system of the cancer patient.
About Bristol Myers Squibb
Bristol Myers Squibb is a global biopharmaceutical company whose
mission is to discover, develop and deliver innovative medicines
that help patients prevail over serious diseases. For more
information about Bristol Myers Squibb, visit us at BMS.com or
follow us on LinkedIn, Twitter, YouTube, Facebook, and
Instagram.
About Immatics
Immatics 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, LinkedIn and Instagram.
Bristol Myers Squibb Cautionary Statement Regarding
Forward-Looking Statements:
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995
regarding, among other things, the research, development and
commercialization of pharmaceutical products and the agreement. All
statements that are not statements of historical facts are, or may
be deemed to be, forward-looking statements. Such forward-looking
statements are based on current expectations and projections about
our future financial results, goals, plans and objectives and
involve inherent risks, assumptions and uncertainties, including
internal or external factors that could delay, divert or change any
of them in the next several years, that are difficult to predict,
may be beyond our control and could cause our future financial
results, goals, plans and objectives to differ materially from
those expressed in, or implied by, the statements. These risks,
assumptions, uncertainties and other factors include, among others,
that the expected benefits of, and opportunities related to, the
agreement may not be realized by Bristol Myers Squibb or may take
longer to realize than anticipated, that Bristol Myers Squibb may
fail to discover and develop any commercially successful allogeneic
off-the-shelf TCR-T and/or CAR-T program product candidates through
the agreement, that such product candidates may not receive
regulatory approval for the indications described in this release
in the currently anticipated timeline or at all, and if approved,
whether such product candidates for such indications described in
this release will be commercially successful. No forward-looking
statement can be guaranteed. Forward-looking statements in this
press release should be evaluated together with the many risks and
uncertainties that affect Bristol Myers Squibb’s business and
market, particularly those identified in the cautionary statement
and risk factors discussion in Bristol Myers Squibb’s Annual Report
on Form 10-K for the year ended December 31, 2021, as updated by
our subsequent Quarterly Reports on Form 10-Q, Current Reports on
Form 8-K and other filings with the Securities and Exchange
Commission. The forward-looking statements included in this
document are made only as of the date of this document and except
as otherwise required by applicable law, Bristol Myers Squibb
undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, changed circumstances or otherwise.
Immatics Forward-Looking Statements:
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220602005294/en/
Immatics Media: Anja Heuer, +49 89 540415-606,
media@immatics.com Investors: Jordan Silverstein, +1 281-810-7545,
InvestorRelations@immatics.com
Bristol Myers Squibb Media: media@bms.com Investors:
Investor.relations@bms.com
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