Immatics (IMTX) Jefferies 2024 Global Healthcare Conference summary

Technology platform and pipeline

• Utilizes a mass spectrometry-based platform to identify novel peptide-HLA targets from tumor tissue, with a database of over 500 million peptide sequences and 200 prioritized targets.

• Enables differentiation between tumor and normal tissue, allowing selection of highly specific TCRs with minimal cross-reactivity.

• Focuses on clean TCR-target pairs, such as PRIME, for high specificity and safety.

Recent clinical data and development plans

• Recent IMA203 Gen 1 data in melanoma showed a 55% confirmed response rate and median response duration of 13.5 months, with deep and durable responses across melanoma subtypes.

• Disease control rate reached 90%, with tumor shrinkage in 87% of patients; deep responses are expected to translate into long-term benefit.

• Data release was timed to support FDA discussions for a pivotal phase II/III trial, aiming for trial initiation by year-end.

• RMAT designation enables iterative FDA engagement, with some clinical design aspects to be finalized over the summer.

Differentiation from TIL therapy and manufacturing

• IMA203 TCR-T targets PRAME, present on nearly all tumor cells at high density, enabling high efficacy despite targeting a single antigen.

• Manufacturing is simpler and faster than TIL therapy: no surgery, 7-day production, and no need for high-dose IL-2, reducing toxicity and improving patient convenience.

• Low-dose IL-2 does not require ICU stay; high-grade adverse events are rare, transient, and manageable.