June 2 Quick Takes: BMS, Immatics expand partnership to allogeneic T cells

Bristol Myers Squibb Co. (NYSE:BMY) expanded a 2019 autologous T cell therapy partnership with Immatics N.V. (NASDAQ:IMTX) to include allogeneic ɣδ T cells, a modality that has shown impressive early clinical proof-of-concept data in the past year. The partners will develop two TCR- or CAR-engineered ɣδ T cell programs that will be owned by BMS, and both companies will have an option to develop up to four additional programs based on Immatics’ allogeneic ɣδ T cell platform and complementary technologies from BMS. Immatics will receive $60 million up front, up to $700 million in milestones for each BMS program, and tiered royalties. The new collaboration also adds another TCR target discovered by Immatics to the 2019 deal for an additional $20 million up front, plus milestones and royalties.

Transition Bio Inc. raised a $50 million series A round led by Northpond Ventures to develop its biomolecular condensates-based target and drug discovery platform. Transition’s Condensomics microfluidics platform uses machine learning to identify drug targets and novel therapies from biomolecular condensates, transient droplets formed in cells that contain proteins and RNA and represent a virtually untapped target source. Taiho Ventures, Bristol Myers Squibb Co. (NYSE:BMY), Lifeforce Capital and Magnetic Ventures also participated in the round. With the financing, Shaan Gandhi of Northpond and Alfred Sandrock, CEO of Voyager Therapeutics Inc. (NASDAQ:VYGR) and former head of R&D at Biogen Inc. (NASDAQ:BIIB), joined the board...