Genmab, Immatics in $2.8-Billion Deal for ImmunotherapiesBy
Genmab A/S, a Copenhagen, Denmark-based biopharmaceutical company developing therapeutic anti-cancer antibodies, has formed a license pact with Immatics Biotechnologies GmbH, a Tuebingen, Germany-based clinical-stage biopharmaceutical company, to discover and develop bispecific immunotherapies to target multiple cancer indications in a deal worth up to $2.8 billion ($54 million upfront and balance in milestones).
The deal combines Genmab’s proprietary technologies and antibody knowledge with Immatics’ proprietary XPRESIDENT targets and T-cell receptor (TCR) capabilities. Genmab will receive an exclusive license to three proprietary targets from Immatics with an option to license up to two additional targets at predetermined economics. The companies will conduct joint research, funded by Genmab, on multiple antibody and/or TCR-based bispecific therapeutic product concepts.
Genmab may elect to progress any resulting product candidates and will be responsible for development, manufacturing, and worldwide commercialization. For any products that are commercialized by Genmab, Immatics will have an option to limited co-promotion efforts in selected countries in the European Union.
Under the agreement, Genmab will pay Immatics an upfront fee of $54 million and Immatics is eligible to receive up to $550 million in development, regulatory and commercial milestone payments for each product, as well as tiered royalties on net sales.