The biotech company, founded in 2000, develops novel therapies against cancer.
(Photo: Immatics Biotechnologies GmbH)
Frankfurt The Tübingen-based biotech company Immatics signs a development and marketing agreement for a novel cancer therapy with the US pharmaceutical company Bristol-Myers Squibb (BMS). If successful, the deal could bring the Tübingen company milestone payments of more than $ 900 million. In addition, a double-digit percentage share of sales beckons in the event of a market launch, which could turn the agreement into a billion-dollar deal for Immatics.
The agreement concerns the most advanced product candidate from Immatics, which is pursuing a novel approach against solid tumors, i.e. malignant new tissue formations.
Specifically, it is about an antibody-like molecule that makes use of the body’s own immune system by activating so-called T cells and aligning them against cancer cells with a specific target structure. T cells are special immune defense cells that have the ability to discover and switch off foreign structures on the body’s own cells.
The Immatics molecule, a so-called T-Cell Engaging Receptor (TCER), is specially equipped: On the one hand, it can recognize and dock onto a specific target structure on solid tumors. On the other hand, it is equipped with a second binding site, an antibody, which can activate T cells from anywhere in the body in order to destroy the tumor cells.
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The collaboration with BMS gives Immatics access to the global clinical development and marketing capacities of the pharmaceutical company, which is strongly active in oncology. With the agreement, BMS, in turn, has secured a new type of opportunity for the treatment of solid tumors, which is currently one of the most promising approaches in cancer therapy.
$ 150 million prepayment
Under the agreement, Immatics will receive an upfront payment from BMS of $ 150 million and up to $ 770 million in milestone payments for development, approval and commercialization. In addition, there are staggered royalties in the double-digit percentage range on net sales of the product.
Immatics has the option to co-finance the development in the USA in exchange for higher royalties and to market the product candidate called IMA401 in the USA together with Bristol-Myers Squibb. The Nasdaq-listed biotech company Immatics has a number of such TCER molecules in development.
In November, Immatics submitted an application for the start of human testing to the responsible Paul Ehrlich Institute for the product candidate IMA401. The study, which is scheduled to begin in the first half of next year, will include patients with a variety of solid tumors.
If successful, the active ingredient could be used in tumors that are difficult to treat: The target structure it is aimed at is found in certain forms of lung, head and neck cancer, as well as bladder, uterine and ovarian cancer, among other things.
Immatics entered into a cell therapy development partnership with Celgene Corporation in 2019, which is now a wholly owned subsidiary of BMS. If this deal is successful, Immatics will receive more than $ 1.5 billion in milestone payments and royalties.
More: $ 110 million for cell therapy cancer specialist T-Knife