Immatics N.v. · NASDAQ:IMTX
Immatics — Investor Presentation (August 2025)
47 slides from Immatics's investor presentation, Aug 13, 2025
Slide 1: Immatics Corporate Presentation August 13, 2025
Immatics Corporate Presentation August 13, 2025 Exhibit 99.3
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 respective c
Slide 3: PRAME Is Expressed in More Than 50 Cancers
PRAME Is Expressed in More Than 50 Cancers Anzutresgene autoleucel (anzu-cel, formerly IMA203), 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
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 molecules1 The PRAME peptide can be targeted by T-cell receptors (TCRs) engineered by Immatics, thus overcoming limitations of classical antibod
Slide 5: Immatics pipeline
Product candidate Modality Indication Target Anzu-cel (IMA203) Cell therapy 2L melanoma* PRAME Anzu-cel (IMA203) Cell therapy Uveal melanoma PRAME Anzu-cel (IMA203) Cell therapy + mRNA-4203 Cutaneous melanoma, synovial sarcoma PRAME IMA203CD8 Cell therapy Gynecologic cancers PRAME Other solid cancer
Slide 6: Broadest PRAME Franchise with Most Indications and Modalities
Immatics has the Broadest PRAME Franchise with the Most PRAME Indications and Modalities PRAME Wave #2 PRAME Wave #3 Anzutresgene autoleucel (anzu-cel, formerly IMA203), All patient numbers refer to PRAME+/HLA-A*02:01+ patients in the US and EU5 in 2025; Source: Clarivate Disease Landscape and Forec
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. Anzu-cel (IMA203) PRAME Cell Therapy IMA203CD8 PRAME Cell Therapy (GEN2) IMA402 PRAME Bispecific Ph1a
Slide 8: PRAME Target Product Profile (TPP)
PRAME 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 Tumor cell HLA PRAME peptide A
Slide 9: Anzu-cel (IMA203) PRAME Cell Therapy Market Entry in Advanced Melanoma
Anzu-cel (IMA203) PRAME Cell Therapy Market Entry in Advanced Melanoma PRAME Wave #1 9 Anzutresgene autoleucel (anzu-cel, formerly IMA203)
Slide 10: Anzu-cel (IMA203) PRAME Cell Therapy: Market Entry in Advanced Melanoma
Anzu-cel (IMA203) PRAME Cell Therapy: Market Entry in Advanced Melanoma Anzu-cel (IMA203) Opportunity 2L Unresectable or Metastatic Cutaneous Melanoma* ~7.3K addressable PRAME+/HLA-A*02:01+ patients in the US & EU5 ~1.3K addressable PRAME+/HLA-A*02:01+ patients in the US & EU5 Anzutresgene autoleuce
Slide 11: Positive Data and High Unmet Need
Positive Data and High Unmet Need SUPRAME Phase 3 trial in 2L cutaneous melanoma* actively enrolling patients Anzutresgene autoleucel (anzu-cel, formerly IMA203), 1 Includes all benefits of Breakthrough Therapy Designation; # PRAME+/HLA-A*02:01+ addressable patient population, source: Clarivate Dise
Slide 12: Anzu-cel (IMA203) PRAME Cell Therapy – Patient Journey
Anzu-cel (IMA203) PRAME Cell Therapy – Patient Journey Anzutresgene autoleucel (anzu-cel, formerly IMA203), 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/m2 Fludarabine and 500 mg/m2 Cyclophosphamide fo
Slide 13: Phase 1 Study: Baseline Characteristics & Treatment Experience
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. Baseline Ch
Slide 14: Anzu-cel Safety: Adverse Events in ≥20% of Patients
Anzu-cel (IMA203) PRAME Cell Therapy Safety: Adverse Events in ≥20% of Patients N=74 Patients Across All Dose Levels in Phase 1a/b (Total Safety Population) Anzutresgene autoleucel (anzu-cel, formerly IMA203), Patients are counted only once per adverse event and severity classification. 1 Two patien
Slide 15: Anzu-cel: BOR in Melanoma Efficacy Population
Anzu-cel (IMA203) PRAME Cell Therapy: BOR in Melanoma Efficacy Population 56% Confirmed Objective Responses in Heavily Pretreated Patients with Metastatic Melanoma Anzutresgene autoleucel (anzu-cel, formerly IMA203), *Maximum change of target lesions and RECIST1.1 response at different timepoints. 1
Slide 16: Anzu-cel: DOR in Melanoma Efficacy Population
Anzu-cel (IMA203) PRAME Cell Therapy: DOR in Melanoma Efficacy Population Prolonged Ongoing Responses up to 2.5+ Years after Treatment Anzutresgene autoleucel (anzu-cel, formerly IMA203), 1 Patient out of study due to PD (external assessment); 2 Patient out of study at data-cut (withdrew consent); 3
Slide 17: Anzu-cel: Survival Outcomes in Melanoma Efficacy Population
Anzu-cel (IMA203) PRAME Cell Therapy: Survival Outcomes in Melanoma Efficacy Population Median Progression Free Survival Median Overall Survival 12-month OS rate: 61% 6-month PFS rate: 53% 12-month PFS rate: 27% Anzutresgene autoleucel (anzu-cel, formerly IMA203), 1 Includes melanoma (other) n=3: mu
Slide 18: Anzu-cel in Melanoma: Overview of Studies PFS and OS Data
Anzu-cel (IMA203) PRAME Cell Therapy in Melanoma: Overview of Studies PFS and OS Data in Melanoma Cohorts Drug Product Phase N Melanoma patient population Prior lines of therapies mPFS (months) mOS (months) Anzu-cel in Melanoma 1b (Dose Expansion) 33 42% cutaneous 48% uveal 9% other 3% n=0, 24% n=1,
Slide 19: Anzu-cel: Enhanced mPFS of >1 Year with Deep Responses
Anzu-cel (IMA203) PRAME Cell Therapy Enhanced mPFS of >1 Year in Melanoma Patients with Deep Responses Data cut-off Apr 07, 2025 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 Anzu-cel
SUPRAME: A Randomized Ph3 Trial of Anzu-cel (IMA203) PRAME-directed TCR T-cell Therapy vs Investigator’s Choice in Unresectable or Metastatic Melanoma post ICI Actively Enrolling, >65 Sites Planned across North America and Europe Anzu-cel (IMA203) n=180 Investigator’s choice n=180 Primary Endpoint P
Slide 21: Cell Therapy Manufacturing Facility To Support Anzu-cel BLA and Commercialization
Cell Therapy Manufacturing Facility To Support Anzu-cel BLA and Commercialization ~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 sufficient to s
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 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, Germany, It
Slide 24: IMA203CD8 PRAME Cell Therapy (GEN2) Summary
IMA203CD8 PRAME Cell Therapy (GEN2) Data cut-off Sep 30, 2024 Araujo et al., 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
Slide 25: IMA203CD8 – Patient Characteristics
IMA203CD8 PRAME Cell Therapy (GEN2) – Patient Characteristics 1 DL4a cleared in Dec 2023; 2 DLTs at DL4b triggered modifications of the eligibility criteria, adapted patient population is treated with DL4c; 3 As of May 13, 2025 4 All patients who started lymphodepletion. 5All infused patients with a
Slide 26: Tolerability of IMA203CD8: All ≥Grade 3 Adverse Events
Tolerability of IMA203CD8 PRAME Cell Therapy (GEN2) All ≥Grade 3 Adverse Events (N=44) Adverse event ≥ Grade 3 (System organ class, preferred term) No. % Patients with any adverse event 44 100.0 Adverse events of special interest 7 15.9 Cytokine release syndrome1 6 13.6 Immune effector cell-associat
Slide 27: Clinical Anti-Tumor Activity of IMA203CD8
Clinical Anti-Tumor Activity of IMA203CD8 PRAME Cell Therapy (GEN2) (N=41) Ongoing Dose Escalation cORR 41% (14/34) median DOR (min, max) mFU 9.2 months 2.0+, 23.5+ 13.1 months 10/17 responses ongoing including 3 confirmed responses at 1+ year Deep responses with ≥50% tumor size reduction in 11/17 r
Slide 28: Duration of IMA203CD8 Therapy Responses
Duration of IMA203CD8 PRAME Cell Therapy (GEN2) Therapy Responses (N=41) Ongoing Dose Escalation 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 assessment; 4 on
Slide 29: Opportunity of IMA203CD8 in Medium-Level PRAME Expressing Indications
Opportunity of IMA203CD8 in Medium-Level PRAME Expressing Indications Anzutresgene autoleucel (anzu-cel, formerly IMA203); * Patients treated at RP2D during Ph1b with evaluable post baseline assessments at data-cut off anzu-cel: Aug 23, 2024; BOR: best overall response; PD: progressive disease; SD:
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 PRAME Bispecific: Expansion to Early-Stage PRAME Cancers
IMA402 PRAME Bispecific: Expansion of the Commercial Opportunity to Early-Stage PRAME Cancers 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;
Slide 32: IMA402 PRAME Bispecific Summary: Phase 1 Dose Escalation Study
Cancer Cell IMA402 PRAME Bispecific Summary: Phase 1 Dose Escalation Study 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 ongoing Initi
Slide 33: Phase 1/2 Clinical Trial to Evaluate IMA402
Phase 1/2 Clinical Trial to Evaluate IMA402 PRAME Bispecific 360 µg 800 µg 3,000 µg 5,000 µg 120 µg 1,600 µg 60 µg 20 µg DL1 DL2 DL3 DL4 DL5 DL7 DL9 DL6 8,000 µg 4,000 µg DL8 Key Eligibility Criteria Objectives Primary: Determine MTD and/or RP2D Tolerability Secondary: Initial anti-tumor activity Ph
Slide 34: IMA402 Demonstrates Favorable Tolerability in N=33 Patients
IMA402 PRAME Bispecific Demonstrates Favorable Tolerability in N=33 Patients Most Frequent Related AEs were Lymphopenia and CRS TEAEs, n [%] All Grades ≥ Grade 3 Any 33 [100] 17 [52] Treatment-related 32 [97] 15 [45] Treatment-related AEs1, n [%] All Grades ≥ Grade 3 Lymphopenia 17 [52] 10 [30] Cyto
Slide 35: Early Signs of Clinical Activity Associated with PRAME Expression and IMA402 Dose
PRAME Status Negative Positive/NT Dose Levels Across DLs 1-6 7+* Patients with Tumor Shrinkage 14% 25% 78% Early Signs of Clinical Activity Associated with PRAME Expression and IMA402 Dose BOR (RECIST 1.1) Ongoing response / SD (RECIST1.1/ iRECIST) Data cut-off Nov 6, 2024 * Patients who received DL
Slide 36: Exemplary Patient Cases Suggesting Dose-Dependent Tumor Response
Exemplary Patient Cases Suggesting Dose-Dependent Tumor Response Patients with Disease Control (RECIST1.1) at Relevant Doses (DL7+) 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)
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 Beyond PRAME sqNSCLC: squamous non-small-cell lung cancer, HNSCC: head and neck squamous cell carcinoma
Slide 39: IMA401 MAGEA4/8 Bispecific: Driving Innovation beyond PRAME
IMA401 MAGEA4/8 Bispecific: Driving Innovation beyond PRAME 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 EU5 in 20
Slide 40: IMA401 MAGEA4/8 Bispecific Summary: Phase 1 Dose Escalation Study
Cancer Cell MAGEA4/8 IMA401 MAGEA4/8 Bispecific Summary: Phase 1 Dose Escalation Study AE: Adverse Event; CRS: Cytokine Release Syndrome; (c)ORR: (confirmed) objective response rate; PR: Partial Response; DCR: disease control rate; ICI: immune checkpoint inhibitor; q4w: once every four weeks; HNSCC:
Slide 41: Trial Design – IMA401-101 Phase 1a Dose Escalation
Trial Design – IMA401-101 Phase 1a Dose Escalation 180 µg 540 µg 1800 µg 2500 µg Key Eligibility Criteria Objectives 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-positiv
Slide 42: IMA401 Demonstrates Manageable Tolerability (N=35)
IMA401 MAGEA4/8 Bispecific Demonstrates Manageable Tolerability (N=35) Most Frequent Related AEs were Lymphopenia, CRS and Neutropenia TEAEs, n [%] All Grades ≥ Grade 3 Any 32 [91] 26 [74] Treatment-related 28 [80] 19 [54] Treatment-related AEs1, n [%] All Grades ≥ Grade 3 Lymphopenia 12 [34] 11 [31
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/A8high qPCR threshold (n=17); PD: Progressive disease; PR: Partial response; cPR: confirmed Partial response; SD: Stable disease. Objective Responses are Associated with Ta
Slide 44: IMA401 Demonstrates Initial Anti-Tumor Activity in Multiple Tumor Types
IMA401 Demonstrates Initial Anti-Tumor Activity in Multiple Tumor Types * 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 qPCR t
Slide 45: Immatics: Bringing the Power of T cells to Cancer Patients
oe Immatics the Power of T cells to Cancer Patients www.immatics.com
Slide 46: Potential of PRAME Therapies in Solid Cancers
Potential of PRAME Therapies in Solid Cancers PRAME Target Expression and Prevalences in Selected Solid Cancer Types 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
Slide 47: Anzu-cel (IMA203): Significant Shift in PFS and OS Between Dose Escalation & Dose Expansion
Anzu-cel (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 Overall Survival N mPFS Dose Escalation 11 2.6 months Dose Expansion 33 6.1 months N mOS