Tuebingen, Germany and Houston, Texas, February 20, 2020 –  Immatics Biotechnologies GmbH, a clinical-stage biopharmaceutical company active in the discovery and development of T-cell redirecting cancer immunotherapies, today announced it has entered into a strategic collaboration agreement with GSK to develop novel adoptive cell therapies targeting multiple cancer indications.

The companies will collaborate on the identification, research and development of next-generation T-Cell Receptor (TCR) Therapeutics with a focus on solid tumors. The parties will initially develop autologous T-cell therapies with the option to add allogeneic cell therapies using Immatics’ ACTallo® approach. The companies intend to utilize proprietary TCRs identified by Immatics’ XCEPTOR® TCR discovery platform and directed against two proprietary targets, which were discovered and validated by Immatics’ XPRESIDENT® technology.

Under the terms of the agreement, Immatics will receive an upfront payment of 45 Million € (~$50 million) for two initial programs and is eligible to receive over $550M in development, regulatory and commercial milestone payments for each product as well as additional royalty payments. GSK obtains an option to select additional target programs to include in the collaboration. For each additional program, Immatics is entitled to option, milestone and royalty payments.

Immatics will have primary responsibility for the development and validation of the TCR Therapeutics up to designation of a clinical candidate. GSK will assume sole responsibility for further worldwide development, manufacturing and commercialization of the TCR Therapeutics with the possibility for Immatics to co-develop one or more TCR Therapeutics including the conduct of the first-in-human clinical trial upon GSK’s request.

“We are delighted to enter into this strategic collaboration with GSK – a partner who is already committed to adoptive cell therapies and TCR-T approaches,” said Harpreet Singh, Chief Executive Officer of Immatics. “By combining Immatics’ world-leading target and TCR discovery platforms with GSK’s advanced manufacturing, development capabilities and a commitment to next-generation TCR-T technologies, both companies are joining forces to enable the development of effective novel therapies for cancer patients with high unmet medical need.”