Immatics N.v. · NASDAQ:IMTX
Immatics — Investor Presentation (June 2025)
47 slides from Immatics's investor presentation, Jun 2, 2025
Slide 1: Immatics Corporate Presentation
Delivering the Power of T cells to Cancer Patients © Immatics. Not for further reproduction or distribution. Immatics Corporate Presentation May 31, 2025
Slide 2: Forward-Looking Statement
Forward - Looking Statement This presentation (“Presentation”) is provided by Immatics N . V . (“Immatics” or the “Company”) for informational purposes only . The information contained herein does not purport to be all - inclusive and none of Immatics, any of its affiliates, any of its or their resp
Slide 3: PRAME Is Expressed in More Than 50 Cancers
PRAME Is Expressed in More Than 50 Cancers ≥95 % ≥10 % 1 Data on file: PRAME target prevalence is based on a proprietary mass spec - guided expression threshold applied to RNAseq and/or IHC data (approximate values, values between 95 - 100% shown as 95%); 2 NSCLC: Non - small cell lung cancer; IMA20
Slide 4: Immatics Is the Global Leader in Precision Targeting of PRAME
Immatics Is the Global Leader in Precision Targeting of PRAME • PRAME is an intracellular protein presented as a peptide on the surface of tumor cells by HLA molecules 1 • The PRAME peptide can be targeted by T cell receptors (TCRs) engineered by Immatics, thus overcoming limitations of classical an
Slide 5: Pipeline
P h ase P r ec lini c al 1 a 1 b 2 3 Target Indication Modality Product c an d id a t e PRAME 2L Melanoma Cell therapy IMA203 PRAME Uveal melanoma Cell therapy IMA203 PRAME Solid cancers Cell therapy + mRNA - 4203 IMA203 PRAME Gynecologic cancers Cell therapy IMA203CD8 PRAME Other solid cancers PRAM
Slide 6: Broadest PRAME Franchise with the Most PRAME Indications and Modalities
Immatics has the Broadest PRAME Franchise with the Most PRAME Indications and Modalities PRAME Wave #2 PRAME Wave #3 All patient numbers refer to PRAME+/HLA - A*02:01+ patients in the US and EU5 in 2025; Source: Clarivate Disease Landscape and Forecast; EU5: France, Germany, Italy, Spain, United Kin
Slide 7: Broadest PRAME Franchise: Status and Expected Milestones
Immatics has the Broadest PRAME Franchise with the Most PRAME Indications and Modalities PRAME Wave #1 PRAME Wave #2 PRAME Wave #3 ~230K addressable PRAME + /HLA - A*02:01 + patients in the US & EU5 p.a. IMA203 PRAME Cell Therapy IMA203CD8 PRAME Cell Therapy (GEN2) IMA402 PRAME Bispecific • Ph1a dat
Slide 8: PRAME Target Product Profile
8 P RAME 1 Target product profile (TPP) in monotherapy in 2L or later settings post SOC at recommended phase 2 dose (“RP2D”). Other factors such as mPFS (median progression free survival) and mOS (median overall survival) may also be considered. LYMPHODEPLETION & INFUSION Tu mor cell H L A Target p
Slide 9: IMA203 PRAME Cell Therapy Market Entry in Advanced Melanoma
IMA203 PRAME Cell Therapy Market Entry in Advanced Melanoma PRAME Wave #1 9
Slide 10: IMA203 PRAME Cell Therapy: Market Entry in Advanced Melanoma
IMA203 PRAME Cell Therapy: Market Entry in Advanced Melanoma 10 IMA203 Opportunity ~7.3K ad d r e s s a ble PRAME + /HLA - A*02:01 + patients in the US & EU5 ~1.3K addressable P RA M E + /HLA - A*02:01 + patients in the US & EU5 All patient numbers refer to PRAME+/HLA - A*02:01+ patients in the US a
Slide 11: IMA203 PRAME Cell Therapy in Advanced Melanoma: Positive Data and High Unmet Need
Data cut - off 11 Apr 07, 2025 SUPRAME Phase 3 trial in 2L cutaneous melanoma actively enrolling patients 1 Includes all benefits of Breakthrough Therapy Designation; * PRAME + /HLA - A*02:01 + addressable patient population, source: Clarivate Disease Landscape and Forecast 2025; CRS: cytokine relea
Slide 12: IMA203 PRAME Cell Therapy – Patient Journey
IMA203 PRAME Cell Therapy – Patient Journey 12 1 Gragert et al. 2013 and census numbers; HLA - A*02:01 prevalence in Immatics’ clinical trials: US 65% and Germany 55% as of March 2025; 2 30 mg/m 2 Fludarabine and 500 mg/m 2 Cyclophosphamide for 4 days; 3 1m IU daily days 1 - 5 and twice daily days 6
Slide 13: IMA203 Phase 1 Study: Baseline Characteristics & Treatment Experience
IMA203 Phase 1 Study: Baseline Characteristics & Treatment Experience CM, cutaneous melanoma; ECOG, Eastern Cooperative Oncology Group; ICI, immune checkpoint inhibitor; LDH, lactate dehydrogenase; MM, mucosal melanoma; TCR, T - cell receptor; UkM, melanoma of unknown primary; UM, uveal melanoma. 13
Slide 14: IMA203 Safety: Adverse Events Occurring in ≥20% of Patients
IMA203 PRAME Cell Therapy Safety: Adverse Events Occurring in ≥20% of Patients N=74 Patients Across All Dose Levels in Phase 1a/b (Total Safety Population) 14 Patients are counted only once per adverse event and severity classification. 1 Two patients with disease progression after first IMA203 infu
Slide 15: IMA203: Best Overall Response in Melanoma Efficacy Population
IMA203 PRAME Cell Therapy: Best Overall Response in Melanoma Efficacy Population 56% Confirmed Objective Responses in Heavily Pretreated Patients with Metastatic Melanoma 15 *Maximum change of target lesions and RECIST1.1 response at different timepoints. 1 Patient out of study due to PD (external a
Slide 16: IMA203: Duration of Response in Melanoma Efficacy Population
IMA203 PRAME Cell Therapy: Duration of Response in Melanoma Efficacy Population Prolonged Ongoing Responses up to 2.5+ Years after Treatment 16 1 Patient out of study due to PD (external assessment); 2 Patient out of study at data - cut (withdrew consent); 3 Includes melanoma (other) n=3: mucosal me
Slide 17: IMA203: Survival Outcomes in Melanoma Efficacy Population
IMA203 PRAME Cell Therapy: Survival Outcomes in Melanoma Efficacy Population 17 Median Progression Free Survival Median Overall Survival Data cut - off Apr 7, 2025 ASCO 2025 All 1 Melanoma n=33 Uveal Me l a n o ma n=16 C u t ane o u s Me l a n o ma n=14 6.1 (1.4, 34.0+) 14.4 8.5 (1.4, 32.9) 8.7 6.0
Slide 18: IMA203 Phase 1b in Melanoma: Overview of Studies
IMA203 Phase 1b in Melanoma: Overview of Studies PFS and OS Data in Melanoma Cohorts mOS (months) mPFS (months) Prior lines of therapies Melanoma patient population N Phase Drug Product 15.9 6.1 3% n=0, 24% n=1, 30% n=2, 24% n=3:, 6% n=4, 6% n=5, 6% n=6 82% received prior ICI (median of 1 prior line
Slide 19: IMA203 Enhanced mPFS of >1 Year in Melanoma Patients with Deep Responses
IMA203 PRAME Cell Therapy Enhanced mPFS of >1 Year in Melanoma Patients with Deep Responses Data cut - off Apr 07, 2025 19 • 42% (14/33) patients in dose expansion have a deep response (≥50% tumor reduction) • This subgroup of patients has highly medically meaningful mPFS of more than 1 year • Patie
Slide 20: SUPRAME: Randomized Phase 3 Trial of IMA203 in Melanoma
SUPRAME: A Randomized Phase 3 Trial of IMA203 PRAME - directed TCR T - cell Therapy vs Investigator’s Choice in Unresectable or Metastatic Melanoma post ICI Actively Enrolling, >50 Sites Planned across North America and Europe IMA203 n=180 Investigator’s choice n=180 Primary Endpoint • P F S Key Sec
Slide 21: Cell Therapy Manufacturing Facility To Support IMA203 BLA and Commercialization
Cell Therapy Manufacturing Facility To Support IMA203 BLA and Commercialization 21 • ~100,000 sq ft state - of - the - art research & GMP manufacturing facility • Modular design for efficient and cost - effective scalability - total of 8 manufacturing suites, plus further expansion space • Capacity
Slide 22: IMA203CD8 PRAME Cell Therapy (GEN2) Expansion to all Advanced PRAME Cancers
IMA203CD8 PRAME Cell Therapy (GEN2) Expansion to all Advanced PRAME Cancers PRAME Wave #2 22
Slide 23: IMA203CD8: Expansion of Commercial Opportunity to all Advanced PRAME Cancers
IMA203CD8 PRAME Cell Therapy (GEN2): Expansion of Commercial Opportunity to all Advanced PRAME Cancers 23 IMA203CD8 Opportunity 2L Solid Tumors All patient numbers refer to PRAME + /HLA - A*02:01 + patients in the US and EU5 in 2025; Source: Clarivate Disease Landscape and Forecast; EU5: France, Ger
Slide 24: IMA203CD8 Dose Escalation Summary
24 Data cut - off Sep 30, 2024 SITC 2024 Dose escalation ongoing to investigate full clinical potential in hard - to - treat solid tumors outside of melanoma Tolerability Manageable tolerability ≥Grade 3 AEs mainly expected cytopenia DLTs at DL4b led to dose adjustment to DL4a Adjustments to DL4a do
Slide 25: IMA203CD8 PRAME Cell Therapy (GEN2) – Patient Characteristics
IMA203CD8 PRAME Cell Therapy (GEN2) – Patient Characteristics 25 1 DL4a cleared in Dec 2023; 2 DLTs at DL4b triggered modifications of the eligibility criteria, adapted patient population is treated with DL4c; 3 All patients who started lymphodepletion. 4 All infused patients with at least one tumor
Slide 26: Tolerability of IMA203CD8 PRAME Cell Therapy (GEN2)
Tolerability of IMA203CD8 PRAME Cell Therapy (GEN2) 26 All ≥Grade 3 Adverse Events (N=44) 2.3 1 Immune effector cell - associated neurotoxicity syndrome 100.0 44 Blood and lymphatic system disorders 90.9 40 Neutropenia 56.8 25 Anaemia 56.8 25 Lymphopenia 34.1 15 Thrombocytopenia 25.0 11 Leukopenia 4
Slide 27: Clinical Anti-Tumor Activity of IMA203CD8 (N=41)
Clinical Anti - Tumor Activity of IMA203CD8 PRAME Cell Therapy (GEN2) (N=41) Ongoing Dose Escalation 27 41% (14/34) c O R R 9.2 months 2.0+, 23.5+ 13.1 months median DOR (min, max) m FU 10/17 responses ongoing including 3 confirmed responses at 1+ year Deep responses with ≥50% tumor size reduction i
Slide 28: Duration of IMA203CD8 Therapy Responses (N=41)
Duration of IMA203CD8 PRAME Cell Therapy (GEN2) Therapy Responses (N=41) Ongoing Dose Escalation 28 1 Metabolic complete response (CR) according to PET - CT 2 Patients off study at data - cut; 3 three patients excluded from tumor shrinkage analysis and figures due to lack of post - treatment assessm
Slide 29: Opportunity of IMA203CD8 in Medium-Level PRAME Expressing Indications
Opportunity of IMA203CD8 in Medium - Level PRAME Expressing Indications 29 * Patients treated at RP2D during Ph1b with evaluable post baseline assessments at data - cut off IMA203: Aug 23, 2024; BOR: best of response; PD: progressive disease; SD: stable disease; (c)PR: (confirmed) partial response;
Slide 30: IMA402 PRAME Bispecific Expansion to Early-Stage PRAME Cancers
IMA402 PRAME Bispecific Expansion to Early - Stage PRAME Cancers PRAME Wave #3
Slide 31: IMA402 Opportunity
31 IMA402 Opportunity All patient numbers refer to PRAME + /HLA - A*02:01 + patients in the US and EU5 in 2025; Source: Clarivate Disease Landscape and Forecast; EU5: France, Germany, Italy, Spain, United Kingdom; sqNSCLC: squamous cell non - small - cell lung cancer 1L Solid Tumors ~145K addressabl
Slide 32: IMA402 PRAME Bispecific Summary: Phase 1 Dose Escalation Study
C a nc er Cell IMA402 PRAME Bispecific Summary: Phase 1 Dose Escalation Study 32 Dose escalation in advanced stage indications at higher DLs ongoing Tolerability Favorable tolerability profile Most common treatment - related AEs are low - grade CRS and transient lymphopenia Early dose escalation ong
Slide 33: Phase 1/2 Clinical Trial to Evaluate IMA402
Phase 1/2 Clinical Trial to Evaluate IMA402 PRAME Bispecific D L1 D L2 D L3 D L4 D L5 D L7 D L9 D L6 t bd 20 µg 60 µg 120 µg 360 µg 800 µg 1600 µg 3000 µg 4000 µg 5000 µg D L8 • MABEL - based starting dose • Dose escalation based on cohorts of 1 - 6 patients using adaptive design (BLRM model) • Week
Slide 34: IMA402 Demonstrates Favorable Tolerability in N=33 Patients
34 IMA402 PRAME Bispecific Demonstrates Favorable Tolerability in N=33 Patients Most Frequent Related AEs were Lymphopenia and CRS ≥ Grade 3 All Grades TEAEs, n [%] 17 [52] 33 [100] Any 15 [45] 32 [97] Treatment - related ≥ Grade 3 All Grades Treatment - related AEs 1 , n [%] 10 [30] 17 [52] Lymphop
Slide 35: Early Signs of Clinical Activity Associated with PRAME Expression and IMA402 Dose
Positive/NT Negative PRAME Status 7+ * 1 - 6 Across DLs Dose Levels 78% 25% 14% Patients with Tumor Shrinkage Early Signs of Clinical Activity Associated with PRAME Expression and IMA402 Dose 35 BOR (RECIST 1.1) Ongoing response / SD (RECIST1.1/ iRECIST) Data cut - off Nov 6, 2024 * Patients who rec
Slide 36: Exemplary Patient Cases Suggesting Dose-Dependent Tumor Response
Exemplary Patient Cases Suggesting Dose - Dependent Tumor Response 36 Data cut - off Nov 6, 2024 BOR: Best Overall Response; SD: Stable Disease; cPR: Confirmed Partial Response; arrow: Ongoing response / stable disease (RECIST 1.1/ iRECIST) Patients with Disease Control (RECIST1.1) at Relevant Doses
Slide 37: IMA401 MAGEA4/8 Bispecific Driving Innovation beyond PRAME
IMA401 MAGEA4/8 Bispecific Driving Innovation beyond PRAME beyond PRAME
Slide 38: Beyond the PRAME Franchise
Beyond the PRAME Franchise PRAME Wave #1 PRAME Wave #2 PRAME Wave #3 ~230K addressable PRAME + /HLA - A*02:01 + patients in the US & EU5 p.a. IMA203 PRAME Cell Therapy IMA203CD8 PRAME Cell Therapy (GEN2) IMA402 PRAME Bispecific ~62K addressable MAGEA4/8+ and HLA - A*02:01+ in the US & EU5 p.a. EXPEC
Slide 39: IMA401 MAGEA4/8 Bispecific: Driving Innovation beyond PRAME
IMA401 MAGEA4/8 Bispecific: Driving Innovation beyond PRAME 39 IMA401 Opportunity 1L Solid Tumors 1 Target prevalence is based on TCGA RNAseq data combined with a proprietary mass spec - guided RNA expression threshold; All patient numbers refer to MAGEA4/8 + /HLA - A*02:01 + patients in the US and
Slide 40: IMA401 MAGEA4/8 Bispecific Summary: Phase 1 Dose Escalation Study
C a nc er Cell MAGEA4/8 IMA401 MAGEA4/8 Bispecific Summary: Phase 1 Dose Escalation Study 40 AE: Adverse Event; CRS: Cytokine Release Syndrome; (c)ORR: (confirmed) objective response rate; PR: Partial Response; DCR: disease control rate; CPI: checkpoint inhibitors; q4w: once every four weeks; HNSCC:
Slide 41: Trial Design – IMA401-101 Phase 1a Dose Escalation
41 180 µg 540 µg 1800 µg 2500 µg Key Eligibility Criteria Object iv es Primary: • Determine MTD and/or RP2D Secondary: • Tolerability • Pharmacokinetics • Initial anti - tumor activity • Recurrent and/or refractory solid tumors • HLA - A*02:01 positive • MAGEA4/8 - positive as confirmed by mRNA - b
Slide 42: IMA401 Demonstrates Manageable Tolerability (N=35)
42 IMA401 MAGEA4/8 Bispecific Demonstrates Manageable Tolerability (N=35) Most Frequent Related AEs were Lymphopenia, CRS and Neutropenia ≥ Grade 3 All Grades TEAEs, n [%] 26 [74] 32 [91] Any 19 [54] 28 [80] Treatment - related ≥ Grade 3 All Grades Treatment - related AEs 1 , n [%] 11 [31] 12 [34] L
Slide 43: Objective Responses are Associated with Target Expression
1 Patients in this analysis had received IMA401 infusions at ≥1 mg and showed MAGEA4/8 target expression above indicated MAGEA4/A8 high qPCR threshold (n=17); PD: Progressive disease; PR: Partial response; cPR: confirmed Partial response; SD: Stable disease. Objective Responses are Associated with T
Slide 44: IMA401 Demonstrates Initial Anti-Tumor Activity in Multiple Tumor Types
IMA401 Demonstrates Initial Anti - Tumor Activity in Multiple Tumor Types 44 * Patients in this analysis are part of the efficacy analysis set with at least one post - treatment tumor assessment and had received IMA401 infusions at ≥1 mg and showed MAGEA4/8 target expression higher than the MAGEA4/8
Slide 45: Appendix
Deli v ering © Immatics. Not for further reproduction or distribution. www.immatics.com the Power of T cells to Cancer Patients Appendix
Slide 46: Potential of PRAME Therapies in Solid Cancers
Potential of PRAME Therapies in Solid Cancers 46 Hukelmann et al., SITC 2022, updated prevalences as of May 2025 1 Data on file: PRAME target prevalence is based on a proprietary mass spec - guided expression threshold applied to TCGA or in - house (SCLC) RNAseq data (approximate values, values betw
Slide 47: IMA203: Significant Shift in PFS and OS Between Dose Escalation & Dose Expansion
IMA203: Significant Shift in PFS and OS Between Dose Escalation & Dose Expansion PFS of 6 Months and OS of 16 Months in Melanoma Efficacy Population Progression Free Survival Data cut - off Apr 07, 2025 47 Overall Survival mPFS N 2.6 months 11 Dose Escalation 6.1 months 33 Dose Expansion mOS N 6.3 m