Immatics Shares Rise Premarket on Collaboration With Moderna
11 Setembro 2023 - 08:54AM
Dow Jones News
By Colin Kellaher
Shares of Immatics moved higher in premarket trading Monday
after the clinical-stage biopharmaceutical company formed a
collaboration with vaccine maker Moderna to develop new therapies
for cancer patients.
The companies on Monday said they plan to combine Immatics'
Xpresident target discovery platform with Moderna's mRNA technology
for the development of novel cancer vaccines.
Moderna, based in Cambridge, Mass., will make a $120 million
upfront payment to Germany-based Immatics under the agreement, the
companies said.
Immatics will also receive research funding and is eligible to
receive milestone payments that could top $1.7 billion, along with
royalties on product sales.
Immatics shares, which closed Friday at $12.18, were recently up
6.6% to $12.98 in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 11, 2023 07:39 ET (11:39 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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