Pharma BD Deal Intelligence
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Full analysis, sources & comparables →Bristol Myers Squibb is paying Immatics 60 million dollars upfront and making an undisclosed equity investment to expand a cell therapy partnership originally…
Bristol Myers Squibb has expanded its 2019 partnership with cell therapy biotech Immatics, paying $60 million upfront and making an equity investment to take…
Immatics FY2025 results: total revenue $56.8M vs $183.1M in 2024; the decrease is mainly the one-time non-cash revenue from acceleration of deferred revenue…
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BMS and Immatics expanded their strategic alliance to develop multiple allogeneic off-the-shelf TCR-T and/or CAR-T programs using ACTallo gamma-delta T cells, plus added one additional autologous TCR-T target. Immatics received $60M upfront ($80M total including autologous expansion) plus up to $700M in per-program milestones and royalties. UPDATE (terminated): On portfolio-prioritization grounds, Bristol Myers Squibb terminated this June-2022 ACTallo allogeneic collaboration (along with a related May-2023 opt-in), with the termination effective March 12, 2025. Immatics regained the rights, retained the upfront payments, and recognized accelerated deferred revenue; the companies' separate 2019 strategic collaboration remains ongoing. (BMS had separately terminated the distinct Dec-2021 IMA401 deal effective December 12, 2024.)
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Bristol-Myers Squibb Company / Immatics N.V. (this deal) | 2022 | $770M | — |
| Bristol-Myers Squibb Company / Medarex Inc. | 2009 | $2.4B | 92 |
| Bristol-Myers Squibb Company / Celgene Corporation | 2019 | $74.0B | 77 |
| Bristol-Myers Squibb Company / MyoKardia Inc. | 2020 | $13.1B | 76 |
| Bristol-Myers Squibb Company / Karuna Therapeutics | 2023 | $14.0B | 76 |
| Bristol-Myers Squibb Company / Ono Pharmaceutical Co., Ltd. | 2011 | — | 76 |
| Bristol-Myers Squibb Company / SystImmune Inc. | 2023 | $8.4B | 71 |
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