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Celgene, Immatics sign $75M upfront deal to develop cancer therapies

Celgene Corp. is collaborating with privately owned Immatics Biotechnologies GmbH to develop novel adoptive cell therapies for multiple cancers, in a deal worth $75 million upfront.

Germany-based Immatics is developing T cell receptor, or TCR, treatments for solid tumor targets using its Xpresident technology and Xceptor discovery and engineering platform. TCR is a molecule found on the surface of certain immune cells that binds with antigens.

Immatics holds the responsibility for the initial development and validation of these programs. Under the collaboration, Celgene will have the option to take over further worldwide development, manufacturing and commercialization of the TCR therapies.

Celgene will pay Immatics $75 million upfront for three programs and up to $505 million for each product in different development and milestone payments. Additionally, Immatics will receive sales royalties.