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Immunome Reports Fourth Quarter and Full Year 2022 Financial Results
EXTON, Pa.--(BUSINESS WIRE)-- Immunome, Inc. (Nasdaq: IMNM), a biopharmaceutical company that utilizes its human memory B cell platform to discover and
About this update from Immunome, Inc.
[{"type":"text","content":" EXTON, Pa.--(BUSINESS WIRE)--\nImmunome, Inc. (Nasdaq: IMNM), a biopharmaceutical company that utilizes its human memory B cell platform to discover and develop first-in-class antibody therapeutics to improve patient care, today reported financial results for the fourth quarter ended December 31, 2022 and provided a corporate update.\n\n“Looking back on the past year, the transformative strategic collaboration with AbbVie highlighted the disruptive nature of our discovery platform in finding novel antibody-target pairs based on human memory B-cell response,” stated Purnanand Sarma, Ph.D., President and CEO of Immunome. “We look forward to continuing to execute on our momentum throughout the upcoming year as we advance our pipeline, including an IND submission for our lead oncology program, IMM-ONC-01 (anti-IL-38 antibody), and working closely with AbbVie on our collaboration to ultimately make a difference in cancer patients’ lives.”\n\nHighlights\n\n\nAbbVie and Immunome Announced Strategic Collaboration to Discover Multiple Novel Oncology Targets. In January 2023, Immunome entered into a strategic collaboration and option agreement with AbbVie for the discovery of up to 10 novel antibody-target pairs arising from three specified tumor types derived from Immunome’s Discovery Engine. Key financial terms of the collaboration and option agreement include:\n\n\n\n\n$30 million upfront\n\n\n$70 million in platform milestones\n\n\nLow single digit millions options payments per target\n\n\n$120 million per target in development and first commercial sale milestone\n\n\n$150 million per target in sales based milestones\n\n\nTiered royalties on global sales\n\n\n\n\n\n\nPreclinical Data on Novel Anti-EPN1 Antibody IMM20059 at the Society for Immunotherapy of Cancer’s 37th Annual Meeting. In November 2022, Immunome presented a poster presentation of IMM20059, Immunome’s novel anti-EPN1 antibody, at the SITC Annual Meeting. IMM20059 in combination with anti-PD-L1 atezolizumab demonstrated significant tumor regression compared to IMM20059 or atezolizumab treatment alone, suggesting a potential combinatorial effect, or a greater than 50% reduction in tumor volume (p","length":3740,"tagName":"div"}]