© Reuters Immatics (IMTX) surges on cancer drug deal with Moderna (MRNA) worth up to $1.8B
Shares of Immatics N.V. (NASDAQ:) gained 10% in pre-open trading Monday after signing a cancer drug deal with vaccine giant Moderna (NASDAQ:) worth up to $1.8 billion.
The two announced a strategic research and development collaboration to pioneer novel and transformative therapies for cancer patients with high unmet medical needs.
As per the agreement, Immatics will receive an initial payment of $120 million, along with ongoing research funding, and stands to gain potential milestone payments for development, regulatory approvals, and commercial achievements, which have the potential to exceed $1.7B.
The extensive cross-platform partnership will harness the profound scientific knowledge and fundamental operational strengths of both organizations. It will integrate Immatics’ TCR platform with Moderna’s state-of-the-art mRNA technology, encompassing diverse therapeutic approaches such as bispecifics, cell therapy, and cancer vaccines.
The strategic R&D collaboration between Moderna and Immatics encompasses three key areas: first, utilizing Moderna’s mRNA technology to enable in vivo expression of Immatics’ next-generation TCR bispecifics (TCER®) targeting cancer-specific HLA-presented peptides; second, facilitating the discovery and development of innovative mRNA-based cancer vaccines by harnessing Moderna’s mRNA expertise and Immatics’ extensive tumor and normal tissue data through XPRESIDENT® and XCUBE™; and finally, evaluating the combination of Immatics’ IMA203 TCR-T therapy targeting PRAME with Moderna’s PRAME mRNA-based cancer vaccine through preclinical studies and a Phase 1 clinical trial to enhance IMA203 T cell responses.
“We are excited to embark on this strategic collaboration with Immatics, a pioneer in developing innovative cancer immunotherapies. This partnership presents a groundbreaking opportunity to leverage our mRNA technology alongside Immatics’ TCR platform, potentially diversifying and augmenting the way we approach cancer treatment. We believe this collaboration will accelerate the development of novel oncology therapies and bring us one step closer to providing significant benefits for patients with high unmet medical needs,” said Rose Loughlin, Ph.D., Moderna’s Senior Vice President for Research and Early Development.
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