Press Release

Immatics Enters Global Exclusive License Agreement With Bristol Myers Squibb

December 22, 2021

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.

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