Amgen Invests $30M In Immatics, Up To $1 Billion In Future Payments

Thousand Oaks-based Amgen announced this morning that it has made a $30M investment in a German company developing cancer immunotherapy, Immatics Biotechnologies GmbH. According to Amgen, the deal could potentially be worth over $1 billion in milestone payments plus royalties. Immatics Biotechnologies is developing cancer immunotherapies focused around target discovery and T-cell receptors, which the two said they are combining with Amgen's bispecific antibody platform, in order to create novel oncology drugs. The two said that Amgen will be responsible for the clinical development, manufacturing and commercialization worldwide of the new drugs.