Immatics up after deal with Moderna to develop cancer vaccines

Immatics

11/09/2023 12:45

** U.S.-listed shares of Netherlands-based drug developer
Immatics  IMTX.O   4A3.F  rise 4.6% to $12.74 in premarket
trading 
    ** Moderna  MRNA.O  struck a deal with Immatics to develop
cancer vaccines and therapies 
    ** MRNA to pay $120 mln in cash and additional milestone
payments to IMTX 
    ** Moderna said the companies intend to combine Immatics'
T-cell redirecting cancer therapies with its mRNA technology
    ** IMTX will also receive research funding and is eligible
to receive development, regulatory and commercial milestone
payments that could exceed $1.7 bln - Moderna
    ** As of last close, U.S.-listed IMTX stock up 39.84% so far
this year

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))