Oncology-focused biopharmaceutical company Immatics has announced its underwritten public offering of 16.25 million ordinary shares at USD 9.25 per share and an option to purchase an additional 2,437,500 shares. The offering is expected to gross roughly USD 150 million and is anticipated to close on October 15, 2024, subject to satisfactory closing conditions.

The company has not specified any intended purpose for the funds raised.

Immatics is a clinical-stage biopharmaceutical company focused on developing T-cell redirecting cancer immunotherapies. The company combines the discovery of true cancer targets with the development of the right T-cell receptors to enable a specific T-cell response against these targets. Its proprietary technology platforms include XPRESIDENT for target discovery and XCEPTOR for T-cell receptor engineering. The company's pipeline consists of two main therapeutic modalities: Adoptive Cell Therapies (ACT) and T-cell engaging receptor (TCER) bispecifics.