immatics biotechnologies

What immatics biotechnologies does

Immatics N.V. (NASDAQ: IMTX) is a clinical-stage biopharmaceutical company founded in 2000 and headquartered in Tübingen, Germany, with US operations centered on a ~100,000 sq. ft. R&D and GMP manufacturing facility in the Houston metropolitan area. The company develops T-cell receptor (TCR)-based immunotherapies directed primarily at the PRAME tumor antigen, which is expressed in more than 50 cancer types with limited presence in healthy tissue. Its clinical-stage portfolio spans autologous TCR T-cell therapies (anzu-cel/IMA203, IMA203CD8), TCR bispecifics (IMA401 targeting MAGEA4/8, IMA402 targeting PRAME), and an allogeneic γδ T-cell platform (ACTallo), supported by three proprietary discovery and engineering platforms: XPRESIDENT (mass-spectrometry target identification), XCEPTOR (TCR engineering and validation), and the AI-powered XCUBE in silico matching platform.

Name

immatics biotechnologies

Legal name

Immatics N.V.

Website

https://immatics.com

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Immatics is a clinical-stage biopharmaceutical company developing PRAME-directed TCR-based immunotherapies — including autologous cell therapies and TCR bispecifics — for patients with PRAME-positive solid tumors such as melanoma, ovarian, lung, and head and neck cancers.

Ownership category

akta.pro rank

Product category

Cancer Immunotherapies

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro primary industry

Antibody Discovery & Engineering Platforms (display tech, bispecifics, Fc engineering) (HLAAAIAB)

akta.pro secondary industries

Dendritic Cell & Other APC-based Therapies (HLAAABAF), Immuno-Oncology & Immune Monitoring Biomarkers (TMB, MSI, MRD, immune profiling) (HLAAAMAK)

Keywords

• TCR immunotherapy
• Cancer cell therapy
• PRAME targeted therapy
• Biopharmaceutical development
• TCR bispecifics

Headquarters

HQ city

Tübingen

HQ country

Germany

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Collaboration/Partnership Revenue: Immatics generates revenue through collaboration agreements with pharmaceutical partners. Revenue declined significantly from $183.1M in 2024 to $56.8M in 2025, reflecting non-cash revenue acceleration recognized in 2024 due to Bristol Myers Squibb's termination of collaboration agreements.
2. Future Product Sales: Pre-revenue clinical-stage company planning commercial launch of anzu-cel (PRAME TCR T-cell therapy) for advanced melanoma in H2 2027. Planned commercial cell therapy product targeting ~9,000 addressable patients for first target indications.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Immatics is a clinical-stage biopharmaceutical company developing T cell receptor (TCR)-based immunotherapies that target the PRAME tumor antigen across multiple modalities. Its commercial lead asset, anzu-cel (IMA203), is being advanced through a Phase 3 SUPRAME trial for advanced melanoma with a BLA submission targeted in H1 2027 and US commercial launch planned for H2 2027. The portfolio also includes PRAME and MAGEA4/8 TCR bispecifics (IMA402, IMA401), an allogeneic γδ T-cell platform (ACTallo), and proprietary target-discovery and TCR-engineering platforms (XPRESIDENT, XCEPTOR, XCUBE), supported by an in-house GMP cell-therapy manufacturing facility in Houston.

Product overview

Immatics is a clinical-stage biopharmaceutical company developing a broad PRAME-directed immunotherapy franchise with multiple therapeutic modalities. The company's portfolio includes: (1) TCR T-cell therapies (autologous anzu-cel/IMA203, IMA203CD8, and allogeneic platform ACTallo), (2) TCR bispecifics (IMA401 targeting MAGEA4/8, IMA402 targeting PRAME), and (3) enabling technology platforms (XPRESIDENT for target discovery, XCEPTOR for TCR engineering, XCUBE AI-powered platform). The company operates a ~100,000 sq. ft. R&D and GMP manufacturing facility in Houston.

Differentiator

Problem solved

Functional benefit

Products and services

• Anzu-cel (anzutresgene autoleucel, IMA203) Lead PRAME-directed autologous TCR T-cell therapy for advanced cutaneous melanoma and metastatic uveal melanoma, addressing an initial addressable patient population of approximately 9,000 patients.
• IMA203CD8 Next-generation PRAME-directed TCR T-cell therapy engaging both CD8+ and CD4+ T cells, showing 63% ORR in heavily pretreated gynecologic cancers (including 4 complete responses) and 67% ORR in synovial sarcoma.
• IMA402 PRAME-targeted TCR bispecific (TCER) showing favorable tolerability and deep, durable responses in heavily pretreated cancer patients; progressed to Phase 1b dose expansion.
• IMA401 MAGEA4/8-targeted TCR bispecific T-cell engager for solid tumors including NSCLC, head & neck, and bladder cancer; planned for combination use with IMA402 in lung cancer.
• ACTallo (allogeneic TCR T-cell therapy platform) Allogeneic, off-the-shelf TCR T-cell therapy platform based on gene-engineered γδ T cells from healthy donors, designed to eliminate the need for patient-derived cells and enable standardized scalable manufacturing.
• ACTengine (autologous TCR T-cell therapy platform) Proprietary autologous TCR T-cell therapy platform using patient-derived T cells engineered with novel TCRs to detect PRAME peptide on tumors, with manufacturing completed in 7-8 days plus 7-day QC release testing.
• IMA204 (preclinical TCR-T program) Preclinical TCR-T cell therapy targeting the COL6A3 tumor stroma target, designed to engage both CD8+ and CD4+ T cells through a CD8-independent next-generation TCR.

Quantifiable outcome

• 56% confirmed objective response rate (ORR) with 14.6 months median duration of response in advanced melanoma patients treated with anzu-cel
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered core and major.

• Cellular OriginscoreStrategic or Co-development Partner · 7 May 2026Cellular Origins and Immatics announced a collaboration to implement Cellular Origins' automated mobile robotic platform, Constellation®, within Immatics' cell therapy manufacturing processes. The partnership aims to address current manual manufacturing limitations that restrict patient access to approved cell therapies, particularly for solid tumor treatments. Both companies will explore how the Constellation platform can enable scalable and cost-effective production as Immatics advances its programs toward potential regulatory approvals.
• Cellular OriginscoreTechnology or Integration · 5 May 2026Immatics, a late-stage clinical biopharmaceutical company focused on precision targeting of PRAME antigens, seeks to automate selected manufacturing operations through this partnership. Cellular Origins, which specializes in manufacturing cell therapies at scale, will provide its automation expertise to support Immatics' cell therapy development pipeline.
• ModernamajorStrategic or Co-development Partner · 1 September 2023Immatics and Moderna entered strategic research and development collaboration spanning various therapeutic modalities including bispecifics, cell therapy and cancer vaccines. The collaboration combines Immatics' anzu-cel PRAME cell therapy with Moderna's PRAME adaptive immune modulating therapy to further enhance anzu-cel T cell responses with potential to significantly reduce turnaround time and costs through infusion of a much lower cell dose.
• Bristol Myers SquibbmajorStrategic or Co-development Partner · 24 July 2023Bristol Myers Squibb invested $35 million in Immatics to support Immatics' T cell-focused research. The collaboration involved BMS purchasing over 2.4 million shares, with the investment supporting the strengthening collaboration for Immatics' T cell therapy platform.
• Editas MedicinecoreStrategic or Co-development Partner · 1 June 2022Immatics and Editas Medicine entered strategic collaboration and licensing agreement to combine gamma delta T cell adoptive cell therapies and gene editing technologies.
• MD Anderson Cancer CentermajorStrategic or Co-development Partner · 1 August 2015Immatics and MD Anderson announced launch of Immatics US, Inc. to develop multiple T-cell and TCR-based adoptive cellular therapies. The partnership established Immatics' US presence and manufacturing capabilities.

Scale indicators13 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Iovance Biotherapeutics: Direct competitor in cell therapy for solid tumors with the approved Amtagvi (lifileucel) in advanced melanoma — the same initial indication Immatics is pursuing with anzu-cel. Highly comparable business model and target patient population.
• Fate Therapeutics: Competitor in off-the-shelf cell therapy with iPSC-derived NK and T-cell programs for solid tumors. Comparable modality and pipeline focus on scalable, allogeneic cancer cell therapies.
• Adaptimmune Therapeutics: Direct competitor developing TCR-based cell therapies (tecelra) for solid tumors, including MAGEA4-directed therapies (analogous to Immatics' IMA401). Closely comparable in modality, target class, and stage of commercialization.
• Cellectis: Competitor in gene-edited allogeneic cell therapies, including γδ T-cell approaches that overlap with Immatics' ACTallo platform. Comparable technology and indication focus.
• Allogene Therapeutics: Direct competitor in allogeneic (off-the-shelf) cell therapy with gene-edited platforms — overlapping with Immatics' ACTallo allogeneic γδ T-cell strategy. Comparable in modality and cell engineering approach.
• Immunocore Holdings: Direct competitor in TCR-based immunotherapies, with approved tebentafusp (TCR bispecific) in uveal melanoma — directly competing with Immatics' anzu-cel in the same indication. Closely comparable in target class (TCR) and indication focus.

Emerging players

• Moderna: Active collaboration partner (PRAME combination development, 2023) and potential combination-therapy partner or competitor in PRAME-directed cancer vaccines. Comparable adjacency through shared PRAME target.
• CRISPR Therapeutics: Gene-editing cell therapy company with emerging oncology programs; partner of Immatics' allogeneic collaborator Editas Medicine historically. Comparable in cell therapy modality and ex vivo gene editing approach.

Broad incumbents

• Kite Pharma (Gilead Sciences): Established cell therapy leader (Yescarta, Tecartus) expanding into solid tumor indications. Relevant as a broad incumbent that competes for the same commercial infrastructure, payer access, and treatment center relationships.
• Bristol Myers Squibb: Major biopharmaceutical company that was Immatics' largest collaboration partner (terminated 2024) and remains an equity holder. Competes broadly in oncology immunotherapy and could re-enter as a competitor or future commercial partner.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries1 record

Funding overview

Funding rounds17 records

Investors33 records

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M&A

Investments

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Frequently asked questions about immatics biotechnologies