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

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...