Immunome to Acquire Antibody-Related Assets and Materials from Atreca
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The acquisition of antibody-related assets and materials by Immunome, Inc. from Atreca, Inc. represents a strategic move to enhance Immunome's product pipeline in the targeted cancer therapy market. The upfront payment of $5.5 million and potential additional $7.0 million in clinical development milestones signify a notable investment in Immunome's future capabilities. This transaction could potentially lead to the development of new Antibody-Drug Conjugates (ADCs), which may improve the company's competitive edge and market share.
Investors should consider the implications of this acquisition on Immunome's cash reserves and the potential dilution of shares if additional capital is raised to fund the milestones. The long-term benefits, however, could include revenue growth from new products and increased market valuation if the acquired assets lead to successful drug development. On the flip side, the inherent risks in drug development could result in sunk costs if the assets do not progress through clinical trials successfully.
The focus on novel and underexplored targets in ADCs is a growing trend in cancer treatment. ADCs are complex medications designed to target and kill cancer cells while sparing healthy cells, potentially leading to treatments with fewer side effects. Immunome's acquisition could enrich its portfolio with innovative therapies that meet unaddressed medical needs. The successful development of these therapies could positively impact cancer treatment paradigms and patient outcomes.
From a research perspective, the success of these assets in clinical development is critical. The $7.0 million milestone payments are contingent upon clinical progress, which underscores the high-risk, high-reward nature of biotech investments. Stakeholders should monitor the progress of these assets through clinical trials as a key indicator of Immunome's future performance.
The transaction between Immunome and Atreca reflects ongoing consolidation and collaboration within the biotechnology sector, aimed at pooling resources to accelerate drug development. The acquisition may provide Immunome with a broader spectrum of antibodies to explore for ADC development, which is significant given the competitive landscape of cancer therapeutics. It is essential to evaluate how this acquisition might affect Immunome's operational efficiency and time-to-market for new therapies, as well as the potential impact on Atreca's strategic direction post-asset sale.
Understanding the competitive dynamics and the patent landscape surrounding ADCs is crucial for assessing the potential market impact of this deal. If Immunome can leverage these assets to carve out a niche in the targeted therapy space, it could see substantial gains in both market share and investor confidence. However, the success of this strategy is contingent upon navigating the complex regulatory environment and achieving clinical efficacy and safety endpoints.
“We believe that novel and underexplored targets will drive the next generation of transformative ADCs. These antibody-related assets will expand our toolbox, complementing our existing programs as we advance our mission of developing innovative treatments for cancer patients,” stated Clay B. Siegall, Ph.D., Chairman and Chief Executive Officer of Immunome.
Under the terms of the asset purchase agreement, Immunome would pay Atreca a
About Immunome, Inc.
Immunome is a biotechnology company dedicated to developing first-in-class and best-in-class targeted cancer therapies. Our portfolio pursues each target with a modality appropriate to its biology, including immunotherapies, targeted effectors, radioligand therapies and ADCs. We believe that pursuing underexplored targets with appropriate drug modalities leads to transformative therapies. Our proprietary memory B cell hybridoma technology allows for the rapid screening and functional characterization of novel antibodies and targets.
For more information, visit www.immunome.com or follow us on Twitter and LinkedIn.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this communication regarding matters that are not historical facts, are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). We use words such as “believes,” “plans,” “expects,” “will,” “assumes,” “anticipates,” and similar expressions to identify these forward-looking statements that are intended to be covered by the safe-harbor provisions of the PSLRA. These forward looking statements include, but are not limited to, statements regarding Immunome’s expectation that the purchase of assets from Atreca will close and, if closed, will complement Immunome’s development pipeline; and other statements regarding management’s intentions, plans, beliefs, expectations or forecasts for the future. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Such forward-looking statements are based on our expectations and involve risks and uncertainties; consequently, actual results may differ materially from those expressed or implied in the statements due to a number of factors, including, but not limited to, the risk that the transaction with Atreca will not be completed, Immunome’s ability to grow and successfully execute on its business plan, including advancing its current pipeline and any additionally acquired assets into the clinic and expanding its pipeline through its technology platforms, proprietary toolbox and the Atreca transaction and other strategic transactions, if any; the ability of Immunome to identify, conduct and complete IND-enabling studies; changes in the applicable laws or regulations; the possibility that Immunome may be adversely affected by other economic, business, and/or competitive factors; the risk that regulatory approvals for Immunome’s programs and product candidates are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect it or the expected benefits of the Atreca transaction; Immunome’s ability to manage clinical trials or studies; the risk that pre-clinical data may not be predictive of clinical data; the complexity of numerous regulatory and legal requirements that Immunome needs to comply with to operate its business; the reliance on Immunome’s management; the prior experience and successes of the Immunome’s management team are not indicative of any future success; uncertainties related to Immunome’s capital requirements and Immunome’s expected cash runway; the failure to obtain, adequately protect, maintain or enforce Immunome’s intellectual property rights; and other risks and uncertainties indicated from time to time described in Immunome’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with Securities and Exchange Commission (“SEC”) on March 16, 2023, Immunome’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 filed with the SEC on November 9, 2023, and in Immunome’s other filings with the SEC. Immunome cautions that the foregoing list of factors is not exclusive and not to place undue reliance upon any forward-looking statements which speak only as of the date made. Moreover, Immunome operates in a very competitive and rapidly changing environment. New risks emerge from time to time. Except as required by law, Immunome does not undertake any obligation to update publicly any forward-looking statements for any reason after the date of this press release to conform these statements to actual results or to changes in their expectations.
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Investor
Corleen Roche
Chief Financial Officer
investors@immunome.com
Source: Immunome, Inc.
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