Despite BMS Bid, Celgene Pays $75m Upfront For Immatics Assets Options

 
• By Mike Ward
  
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Celgene agrees to pay $75m upfront for options to three Immatics TCR-T targets for solid tumors. Deal could be worth up to $1.59bn to the German biotech, which also retains option to co-develop and co-fund certain licensed products.

Cancer cells on scientific background.3d illustration

Immatics Biotechnologies GmbH has signed its first cell therapy-focused deal by entering into a strategic collaboration and option agreement with Celgene Corp. to develop novel adoptive cell therapies targeting solid cancers. Celgene has secured exclusive options to three Immatics TCR-T targets and has agreed to pay the German biopharma $75m upfront, with the potential of a further $505m per program in option exercise payments and milestones, plus tiered royalties on net sales. Moreover, Immatics also retains options to co-develop or co-fund certain licensed products.

Under the terms of the deal, Immatics will attempt to develop T-cell receptor engineered T-cell therapy programs against solid tumor...

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