Summary of Conference Call on Immatics' TCR Bispecifics Company Overview - **Company**: Immatics - **Focus**: Precision targeting of PRAME, a target expressed in over 50 cancers, with a leading franchise in TCR, T-cell therapies, and bispecifics [1][2] Key Products Discussed - **IMA402**: PRAME TCR bispecific - **IMA401**: MAGE4/8 bispecific - Both products are off-the-shelf biologics with antibody-like properties, allowing for immediate patient treatment and broad patient population reach [2][3] Core Points and Arguments Clinical Data and Efficacy - **IMA402**: - Achieved a 30% confirmed objective response rate (ORR) at the recommended phase two dose (RP2D) across all indications, including melanoma and ovarian cancer [5][13] - Favorable tolerability profile observed in 80 patients, with only one high-grade cytokine release syndrome (CRS) event reported [10][11] - Ongoing responses noted, including complete metabolic responses in cutaneous melanoma and uveal melanoma [12][16] - **IMA401**: - Demonstrated a 25% confirmed ORR in head and neck cancer and 29% in melanoma, with promising early signs in squamous non-small cell lung cancer [6][21] - Similar favorable safety profile as IMA402, with no cases of immune effector cell-associated neurotoxicity syndrome (ICANS) [20][21] Development Plans - IMA402 is set to advance into phase one B dose expansion in 2026, focusing on melanoma and gynecological cancers, with potential combinations with immune checkpoint inhibitors [17][18] - IMA401 will also explore combinations with IMA402 for squamous non-small cell lung cancer, targeting a significant patient population [24][25] Safety and Tolerability - Both bispecifics showed a favorable safety profile, with no significant increase in adverse events at higher doses compared to lower doses [34][50] - Prophylactic measures, such as steroids, were implemented to manage potential CRS without impacting clinical efficacy [50] Additional Insights - The bispecifics are designed to be easily combinable with other therapies, making them suitable for frontline settings [41] - The company is considering the potential for neoadjuvant and adjuvant settings, which may enhance treatment efficacy [43] - There is a strategic focus on expanding into earlier treatment lines, as earlier interventions may yield better outcomes [43] Market Potential - Approximately 90% of patients with squamous non-small cell lung cancer are positive for PRAME and/or MAGE4/8, indicating a large addressable market [24][25] - The combination of IMA402 and IMA401 could provide broad treatment coverage for an estimated 40,000 patients with metastatic NSCLC in the US and EU5 annually [24][25] Conclusion - Immatics is positioned to advance its bispecific therapies, IMA402 and IMA401, with promising clinical data and a clear development strategy aimed at addressing significant unmet medical needs in oncology [25]