Immatics Enters Global Exclusive License Agreement With Bristol Myers Squibb
Reston – December 22, 2021 – Cooley advised Immatics, a clinical-stage biopharmaceutical company active in the discovery and development of T cell-redirecting cancer immunotherapies, on its license, development and commercialization agreement with Bristol Myers Squibb for its TCR bispecific candidate, IMA401. Lawyers Ken Krisko, Carly Robinson, Brian Stalter and Stephanie Palmer led the Cooley team advising Immatics.
Under the terms of the agreement, Immatics will receive an upfront payment of $150 million, as well as up to $770 million in development, regulatory and commercial milestone payments, in addition to tiered, double-digit royalty payments on net sales of IMA401. The company will retain the options to co-fund US development in exchange for enhanced US royalty payments and/or to co-promote IMA401 in the US. The collaboration complements ongoing cell therapy activities – with therapeutic modalities built on Immatics’ capabilities to identify novel targets and develop high-affinity, target-specific TCRs.
“At Immatics, we are committed to our goal of delivering meaningful clinical benefits to cancer patients, and based on the promising preclinical data, we see remarkable potential for our TCER platform,” Carsten Reinhardt, chief development officer of Immatics, said in a news release. “We are delighted to extend our existing collaboration with Bristol Myers Squibb to the IMA401 program and view this as an important validation of the therapeutic potential of our TCER approach. Bristol Myers Squibb’s global clinical development and commercialization capabilities in oncology make them the ideal partner for the further development of IMA401.”
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 its pipeline of adoptive cell therapies and TCR bispecifics, as well as its partnerships with global leaders in the pharmaceutical industry. Immatics is committed to delivering the power of T cells and unlocking new avenues for patients in their fight against cancer.
About Cooley LLP
Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law.
Cooley has 1,500 lawyers across 17 offices in the United States, Asia and Europe.
Related contacts
This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as “Cooley”). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. This content may be considered Attorney Advertising and is subject to our legal notices.