Bristol Myers Squibb will pay $150 million upfront to Immatics as part of a deal potentially worth up to $920 million to develop the latter's T-cell-redirecting (TCR) bispecific candidate IMA401, the companies reported Tuesday. A clinical study of IMA401 is expected to get under way in the first half of 2022, enrolling patients with various solid tumour types. Immatics says IMA401, the most advanced asset in its T-cell-engaging receptor (TCER) pipeline, has one binding region that targets MAGEA4/8, a highly prevalent antigen in multiple solid tumours, while the other engages and activates T-cells. In preclinical studies, the company said IMA401 has shown "anti-tumour activity with complete remissions" in various in vivo tumour models, including patient-derived xenograft models. Aside from the upfront $150-million payment and potential milestones totalling up to $770 million, Immatics is also eligible for tiered double-digit royalties on net sales of IMA401, if approved. Meanwhile, the company retains options to co-fund US development in exchange for enhanced US royalty payments and/or co-promoting IMA401 in the country. Antibody-like 'off-the-shelf' biologics Teri Foy, who heads research and early development for immuno-oncology and cell therapy at Bristol Myers Squibb, said "TCERs are an important, emerging modality for solid tumours with the potential for cell-therapy-like efficacy in an off-the-shelf platform offering potentially broader patient access." Discover our new scientific area weekly newsletters Stay on top of critical developments in top fields of interest. Learn more. Sponsored by FirstWord Pharma In 2019, Immatics struck a deal to develop adoptive cell therapies in collaboration with Celgene, which has since been acquired by Bristol-Myers Squibb. "We are delighted to extend our existing collaboration
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