Biotech Values

[DewDiligence]

IMTX, BMY expand oncology collaborations (plural):

https://finance.yahoo.com/news/immatics-bristol-myers-squibb-expand-105900729.html

• New multi-program collaboration to develop allogeneic TCR-T/CAR-T programs brings together Immatics’ allogeneic gamma delta T cell therapy platform ACTallo with Bristol Myers Squibb’s technologies and oncology drug development expertise

• Immatics to receive upfront payment of $60 million and additional milestone payments of up to $700 million per program plus tiered royalty payments of up to low double-digit percentages on net product sales across multiple programs under the new collaboration

• Per 2019 agreement, Bristol Myers Squibb to also add one additional autologous TCR-T target where Immatics will receive an upfront payment of $20 million and be eligible for milestone payments and royalties