immatics raises €54 million to advance its late stage clinical therapeutic cancer vaccine portfolio

22-Sep-2010 - Germany

immatics biotechnologies GmbH announced that it has raised €53.8million in a Series C financing round. The new funds will allow the Company to finance the ongoing development of immatics’ existing pipeline of advanced therapeutic cancer vaccine candidates. In particular, it allows the Company to perform a Phase III pivotal trial of its lead product IMA901 which in data reported in June at ASCO, demonstrated the potential to confer an overall survival benefit in patients with advanced renal cell carcinoma (RCC).

The Series C round was supported by both existing and new investors. Approximately half of the funds came from dievini Hopp Biotech holding, Wellington Partners and other existing shareholders, the other half coming from new investors MIG-advised funds and AT Impf GmbH. Upon the completion of the round Dr. Matthias Kromayer from MIG AG will join the immatics board. dievini Hopp BioTech holding remains immatics’ largest shareholder following this financing.

With the new funds, immatics will start a Phase III pivotal clinical trial with its lead cancer vaccine IMA901 later this year. IMA901 is a rationally designed cancer vaccine comprised of 10 different tumor-associated peptides (TUMAPs) that are frequently found to be over-expressed in the majority of patients suffering from renal cell carcinoma. The trial design builds on insights gained from the Phase II study and input from key opinion leaders and regulatory agencies. The trial will be a randomized, controlled study that will evaluate IMA901 in renal cell carcinoma patients in combination with standard of care against standard of care alone in a first-line setting. The primary end point of the trial will be overall survival and the first results are expected towards the end of 2013.

immatics will also continue the clinical development of IMA910, another therapeutic vaccine that is currently being evaluated in a Phase II clinical study in approx. 90 patients with advanced colorectal cancer. The Company’s third clinical project, IMA950 is in preparation for two Phase I studies in patients with glioblastoma in collaboration with Cancer Research UK and with the National Cancer Institute in the US. Furthermore, the Company will seek to move IMA941 for treatment of gastric cancer patients in East Asia into the clinic and will continue to expand and further improve its XPRESIDENT™ antigen discovery platform.

https://www.bionity.com/en/news/123120/immatics-raises-54-million-to-advance-its-late-stage-clinical-therapeutic-cancer-vaccine-portfolio.html