Immatics launches US$250m Nasdaq-IPO

T cell therapy specialist Immatics N.V.  achieved an initial market capitalisation of US$253m through a mixture of Nasdaq listing and equitiy investment. Immatics achieved the Nasdaq listing by merging with Arya Sciences Acquisition Corp. (Houston), a special purpose acquisition company (SPAC) based in the Cayman Islands.  The new company Immatics N.V. (IMTX), created by the merger, received US$148m in cash – the underwriting revenue of Arya that was parked in an escrow account.

Immatics received an additional US$104m through a private investment in public equity (PIPE) led by Perceptive Advisors. PIPE investors include Redmile Group, Federated Hermes Kaufmann Funds, RTW Investments, Sphera Funds, another unnamed healthcare investor, as well as existing Immatics investors Dievini Hopp BioTech, AT Impf and Wellington Partners.

Immatics N.V. shares are listed under the symbol “IMTX”  and its warrants under the symbol “IMTXW” on the Nasdaq Capital Market. Immatics’ management team, led by Chief Executive Officer Harpreet Singh, PhD., will continue to run the merging company.

Immatics is developing targeted immunotherapy candidates based on its suite of technologies that enables the identification of otherwise inaccessible intracellular protein targets displayed on the cell’s surface. Accessing these targets is generally recognised as an important key to unlocking hard-to-treat cancers – particularly solid tumours. Immatics is leveraging this to develop a pipeline of novel T cell receptor (TCR)-based products designed to deliver a robust and specific T cell response against cancer cells. Immatics’ international team, located in Munich and Tuebingen, Germany, as well as in Houston, Texas, is committed to advancing its proprietary therapeutic pipeline and collaboration programs with global pharmaceutical leaders to address significant unmet medical needs in oncology.