Bristol Myers, Immatics to Collaborate on IMA401
December 14 2021 - 7:54AM
Dow Jones News
By Colin Kellaher
Bristol Myers Squibb Co. and Immatics N.V. on Tuesday said they
will work to develop and commercialize IMA401, the most advanced
product candidate in Immatics' TCR Bispecifics pipeline.
New York biopharmaceutical company Bristol Myers said it will
make an upfront payment of $150 million to Immatics, which is also
eligible for up to $770 million in milestone payments, along with
royalties on sales of IMA401.
Bristol Myers said it will have an exclusive global license to
IMA401, while Immatics, a Tuebingen, Germany, clinical-stage
biopharmaceutical company, retains the options to co-fund U.S.
development in exchange for enhanced U.S. royalty payments and/or
to co-promote IMA401 in the U.S.
Bristol Myers and Immatics said IMA401 has shown anti-tumor
activity in preclinical proof-of-concept studies, with complete
remissions in various in-vivo tumor models including
patient-derived xenograft models. The companies said they will
collaborate to advance the program through clinical
development.
Shares of Immatics, which closed Monday at $11.93, rose more
than 10% in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 14, 2021 07:39 ET (12:39 GMT)
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