Amgen and Immatics Biotechnologies announce agreement to develop immunotherapies for cancer

Amgen and Immatics Biotechnologies announced a research collaboration and exclusive license agreement to develop next-generation, T-cell engaging bispecific immunotherapies targeting multiple cancers. The collaboration will combine Immatics' world-leading XPRESIDENT target discovery and T-cell receptor (TCR) capabilities with Amgen's validated Bispecific T-cell Engager (BiTE) technology with the aim of creating novel oncology drugs. Amgen will be responsible for the clinical development, manufacturing and commercialization worldwide. Under the terms of the agreement, Immatics will receive an upfront fee of $30 million and is eligible to receive over $500 million in development, regulatory and commercial milestone payments for each program and tiered royalties up to a double-digit percentage of net sales.