Genmab partners with Immatics to develop bispecific immunotherapies for cancer

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Genmab announced Thursday a research collaboration and license agreement with Immatics Biotechnologies to discover and develop next-generation bispecific immunotherapies for various tumour types. Under the deal, Genmab will pay an upfront fee of $54 million to Immatics, with the latter eligible to receive up to $550 million in milestone payments for each product, as well as tiered royalties on net sales.

As part of the agreement, Genmab will receive an exclusive license to three targets from Immatics, with an option to license up to two additional targets. Genmab noted that the deal will give it access to Immatics' XPRESIDENT targets and T-cell receptor capabilities. Under the collaboration, the companies will conduct joint research, funded by Genmab, on multiple antibody and T-cell receptor-based bispecific therapeutic product concepts.

According to Genmab, the company may decide to progress any resulting drug candidates, and will assume responsibility for development, manufacturing and global commercialisation. Meanwhile, for any products that are marketed by Genmab, Immatics will have an option to limited co-promotion efforts in selected countries in the EU.