immatics biotechnologies closes Series D funding round

By Marc Castro

Oct 15, 2013 09:41 AM EDT

Clinical stage biopharmaceutical firm immatics biotechnologies GmbH had developed advanced a multi-peptide vaccine program providing active medication against cancer. It had announced the closure of a EUR34 million Series D financing round.

The round was supported by investors such as dievini Hopp Biotech holding, Wellington Partners, AT Impf GmbH and MIG-advised funds. According to the terms of the fundraising, the biopharma firm would receive the first funding tranche of EUR12 million immediately.

The funds would provide capital for immatics to conclude the development of IMA901, such as completion of necessary activities for regulatory filings in both the US and Europe. IMA901 is a cancer vaccine that have ten different tumor associated peptides that are overexpressed in the majority of sufferers of renal cell carcinoma. 

According to Immatics CEO Paul Higham, "We are pleased that our existing investors have demonstrated their continued confidence in immatics and the novel cancer vaccines that we are able to generate our unique, rational TUMAP-based approach to cancer immunotherapy. This financing will allow us to complete the full phase 3 development of IMA901 and prepare regulatory submission packages for the US and Europe. There is a clear need for novel cancer therapies that can deliver prolonged survival while maintaining a good quality of life. We remain hopeful that IMA901 will deliver a significant improvement for patients with renal cell cancer."

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