Moderna in pact with Immatics for cancer therapeutics
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Shares of German biotech Immatics (NASDAQ:IMTX) gained pre-market Monday after announcing an agreement with Moderna (NASDAQ:MRNA) to develop and commercialize oncology products, including cancer vaccines.
Per the terms, Cambridge, Massachusetts-based Moderna (MRNA) is required to pay $120M upfront to Immatics (IMTX), and its additional payments based on development, regulatory, and commercial milestones could surpass $1.7B. Moderna (MRNA) was trading flat after the announcement.

The deal covers three areas: the development of mRNA-based TCER therapeutics, the generation of data useful for the development of cancer vaccines, and the development of a combination therapy involving Immatics' (IMTX) lead asset IMA203 and Moderna's mRNA-based cancer vaccine.

In May, Immatics (IMTX) shares surged in reaction to an interim readout from the company's Phase 1b trial for the T-cell therapy in heavily pre-treated patients with solid tumors.



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