Immatics deepens relationship with pharma major in up to $4.2 billion deal
Immatics Biotechnologies (Nasdaq; IMTX) saw its American-traded shares rise just a modest 3.2% to $7.79 this morning, despite signing a multi-billion-dollar deal, albeit heavily back-loaded.
The German drug developer and Bristol Myers Squibb (NYSE: BMY) have expanded their strategic alliance to pursue the development of multiple allogenic cell therapy programs and add another program to their existing 2019 collaboration agreement.
As part of the new agreement, the companies will combine Immatics’ proprietary gamma delta T cell-derived, allogeneic Adoptive Cell Therapy (ACT) platform, called ACTallo, with BMS’ next-generation technologies.
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