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Immatics receives final 22m Euro Tranche of Series D funding

Authored by James Sheppard

The German based biotech company immatics has announced it has received its final tranche of series D funding worth 22m Euros ($30m). The Series D funding was supported by existing investors dievini Hopp Biotech holdings, Wellington Partners and T Impf GmbH.

Immatics will use the funding to complete its phase III clinical study of IMA901 which is a cancer vaccine. IMA901 is indicated in patients with renal cell carcinoma (RCC). The ongoing phase III trial is evaluating IMA901 in combination with sunitinib (Sutent, Pfizer).  Following a planned interim analysis the Data Safety Monitoring Board has recommended that the trial continue and results are expected in 2015.

The funding will also allow immatics to invest in its unique XPRESIDENT platform to extend its Human Immuopeptidome Program which is focused on identifying hundreds of novel, high quality targets for the most common cancer indications. As part of this program, immatics will also use XPRESIDENT to screen the immunopeptidome of relevant healthy tissue to ensure the selectivity of its novel targets.

Paul Higham, CEO of immatics said, ‘The completion of our Series D fundraising demonstrates the continued commitment to the Company’s strategy to generate value from our TUMAP-based approach to cancer immunotherapy. The independent DSMB’s recommendation means that we will work to complete our phase 3 trial with IMA901 in patients with renal cell carcinoma and we remain on track to announce the final results of this study in 2015.’

Posted in M&A Finance and Funding, Orphan Drugs and Rare Diseases, Pharmaceutical business | Tagged , , , , , , , , , , , , , , , | Leave a comment




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