Immatics has previously said it projects a cash runway well into 2026. Image credit: Shutterstock/rafapress.

NASDAQ-listed Immatics looks set to raise $175m in a public offering, boosting its T cell-directing cancer immunotherapy pipeline.

The underwritten public offering involves 15,925,000 of the company’s ordinary shares at a public offering price of $11.00 per share.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The offering is expected to close on 22 January, according to an 18 January press release.

The biotech will also offer the underwriters 2,388,750 additional shares at the public offering price for 30 days.

In September 2023, Immatics secured a big deal with Moderna. The big pharma agreed to pay $120m upfront along with milestone payments upwards of $1.7bn to create mRNA-enabled in vivo expressed T cell engaging receptor (TCER) molecules for cancer vaccines. As per the collaboration deal, Immatics oversees pre-clinical and early-stage studies, whilst Moderna will lead the development and commercialisation of candidates. 

See Also:

Immatics has developed two target and T-cell receptor (TCR) discovery platforms called XPRESIDENT and XCEPTOR. The biotech is developing TCR-based immunotherapies with an emphasis on solid tumours.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Alongside Immatics’ own candidates, Bristol Myers Squibb is partnering on multiple undisclosed programmes in Immatics’ autologous adoptive cell therapy (ACT) pipeline and allogenic ACT pipeline. ACT is a personalised therapy approach in which the paitent’s own T cells are modified to express a certain TCR, which then engages with the tumour once reinfused into the patient. 

In 2022, Bristol Myers Squibb expanded its collaboration with Immatics for allogenic ACT programmes with $60m upfront and milestone payments of up to $700m per programme. Bristol Myers Squibb has already added an autologous T cell receptor-based therapy, discovered by Immatics, to its pipeline.

Immatics reported $184.3m in revenue in 2022, up from $37.1m in 2021. The company reported lower earnings in Q3 2023 compared to Q3 2022, citing “lower non-cash recognition of deferred revenue from initial upfront payments.”

The biotech projects a cash runway deep into 2026.

Cell & Gene Therapy coverage on Pharmaceutical Technology is supported by Cytiva.

Editorial content is independently produced and follows the highest standards of journalistic integrity. Topic sponsors are not involved in the creation of editorial content.