Press Release

Immatics and Bristol Myers Squibb Expand Strategic Alliance to Develop Cell Therapy Programs

June 9, 2022

New York – June 9, 2022 – Cooley advised Immatics, a clinical-stage biopharmaceutical company active in the discovery and development of T cell-redirecting cancer immunotherapies, on the expansion of its strategic alliance with Bristol Myers Squibb to pursue the development of multiple allogeneic off-the-shelf T cell receptor-based therapy (TCR-T) and/or chimeric antigen receptor (CAR-T) programs. Lawyers Kenneth Krisko, Alan Tamarelli, Brian Stalter, Stephanie Palmer, John Forrest and Carly Robinson led the Cooley team advising Immatics. 

Under the agreement, Immatics will receive an upfront payment of $60 million, as well as up to $700 million per the 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.

In addition, Bristol Myers Squibb and Immatics will expand their 2019 collaboration agreement focused on autologous TCR-T, with the inclusion of one additional TCR target discovered by Immatics, and the company will receive an upfront payment of $20 million, with eligibility for milestone payments and royalties.

Cooley previously advised Immatics on its global exclusive license agreement for its TCR bispecific candidate, IMA401, with Bristol Myers Squibb in December 2021.

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 Immatics’ 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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