Despite BMS Bid, Celgene Pays $75m Upfront For Immatics Assets Options
Celgene agrees to pay $75m upfront for options to three Immatics TCR-T targets for solid tumors. Deal could be worth up to $1.59bn to the German biotech, which also retains option to co-develop and co-fund certain licensed products.
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German TCR developer in partnerships with GSK and BMS will go public and receive $252m at closing in a reverse merger-type transaction with Arya.
Deal Snapshot: GSK obtains rights to two of Immatics’ TCR targets, following on the German firm’s similar deals in recent years with Celgene, Genmab and Amgen.
During Q3, biopharma company fundraising reached $13.3bn, mostly from follow-on public offerings, which again made up the most of those dollars. Despite numerous deals valued at $100m+, M&A activity was the lowest of the year. Many of the biggest partnership deals were centered around the inflammation/immune area.