immatics biotechnologies GmbH, a Tuebingen and Munich, Germany-based biopharmaceutical company developing advanced therapeutic vaccines that are active against cancer, has raised €53.8m in a Series C financing round.
The round was supported by both existing and new investors. Approximately half of the funds came from dievini Hopp Biotech holding, Wellington Partners and other existing shareholders, the other half coming from new investors MIG-advised funds and AT Impf GmbH.
This brings the total amount raised by the company to date to over €100m (approximately US$130m).
In conjunction with (and upon the completion of) the round, Dr. Matthias Kromayer from MIG AG will join immatics’ board.
The new funds will allow the company to advance its existing pipeline of therapeutic cancer vaccine candidates. In particular, immatics will perform a Phase III pivotal trial of its lead product IMA901 which demonstrated the potential to confer an overall survival benefit in patients with advanced renal cell carcinoma (RCC).
IMA901 is a rationally designed cancer vaccine comprised of 10 different tumor-associated peptides (TUMAPs) that are frequently found to be over-expressed in the majority of patients suffering from renal cell carcinoma.
immatics will also continue the clinical development of IMA910, another therapeutic vaccine that is currently being evaluated in a Phase II clinical study.
The company’s pipeline of therapeutic vaccines has been developed using its XPRESIDENT(TM) technology.