Bristol Myers Squibb Terminates Agreements With Immatics Due To Ongoing Portfolio Prioritization Efforts Within BMS For Allogeneic Programs; Collaboration With BMS Under The 2019 Multi-Target TCR-T Strategic Collaboration Agreement Remains Ongoing

Benzinga · Dec 16 23:42

On December 12, 2024, Bristol Myers Squibb ("BMS") notified Immatics N.V. (the "Company") that, due to ongoing portfolio prioritization efforts within BMS, it has elected to terminate the collaboration agreement, dated June 1, 2022, between Celgene Switzerland LLC and Immatics US, Inc., relating to the development of allogeneic programs, and the opt-in agreement, dated April 28, 2023, between Celgene Switzerland LLC and Immatics GmbH, relating to a target under the parties' multi-target TCR-T strategic collaboration. The terminations are effective as of March 12, 2025. The Company is not obligated to refund BMS any part of the $60 million upfront payment received under the collaboration agreement or the $15 million opt-in payment received under the opt-in agreement. The Company's collaboration with BMS under the 2019 multi-target TCR-T strategic collaboration agreement remains ongoing.

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Bristol Myers Squibb Terminates Agreements With Immatics Due To Ongoing Portfolio Prioritization Efforts Within BMS For Allogeneic Programs; Collaboration With BMS Under The 2019 Multi-Target TCR-T Strategic Collaboration Agreement Remains Ongoing

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