Business
Immatics Announces Second Quarter 2020 Financial Results and Business Update
Tuebingen, Germany and Houston, TX, Sept. 03, 2020 (GLOBE NEWSWIRE) -- Completed merger with ARYA Life Science Acquisition Corp. and subsequent NASDAQ listing
About this update from Immatics N.v.
[{"type":"text","content":"Tuebingen, Germany and Houston, TX, Sept. 03, 2020 (GLOBE NEWSWIRE) -- Completed merger with ARYA Life Science Acquisition Corp. and subsequent NASDAQ listing with proceeds from the transaction totaling $253 million (€226 million1) in July 2020.At the closing of the transaction, cash and cash equivalents amounted to $322 million (€288 million1) enabling Immatics to fund operating expenses and capital expenditure requirements for at least 36 months.Expanded ACTengine® clinical programs into Europe with first patient treated with genetically engineered T cell product candidate IMA202 in August 2020; regulatory approval by Paul-Ehrlich-Institute to begin phase I clinical trial with product candidate IMA203 in Germany and to open additional clinical trial sites in the EU.Expanded leadership team with appointment of Cedrik Britten as Chief Medical Officer and new appointments made to Immatics’ board of directors.Extended collaboration with The University of Texas Health Science Center at Houston (UTHealth) in August 2020 until end of 2024 to ensure continued clinical batch supply for all ongoing and upcoming Adoptive Cell Therapy (ACT) clinical trials in US and Europe. Tuebingen, Germany and Houston, TX, September 3, 2020 – Immatics N.V. (NASDAQ: IMTX; “Immatics”), a clinical-stage biopharmaceutical company active in the discovery and development of T cell redirecting cancer immunotherapies, today reported financial results for the second quarter of 2020 and provided a corporate update. “We have achieved a significant milestone as an organization in the last months with our successful listing on NASDAQ, securing the capital needed for Immatics to reach several critical inflection points in our mission to deliver the power of T cells to cancer patients,” said Harpreet Singh, Ph.D., CEO of Immatics. “The second quarter is notable for the expansion of our clinical ACTengine programs in Europe as well as for bringing forward our preclinical and partnered programs. We have strengthened our internal leadership and our board, all of which places us in a strong position to achieve our clinical and operational goals for 2020 and 2021.” Second Quarter 2020 and Subsequent Company Progress Adoptive Cell Therapy Programs IMA201 – The phase I dose-escalating clinical trial, IMA201-101, is actively recruiting patients in the US. The trial is design...