Immatics raises $150M in stock offering to fund PRAME cancer pipeline
What's the deal? Immatics, a German-American biotech targeting the cancer antigen PRAME, has agreed to raise $150 million in an underwritten public stock offering. The company will sell 12,945,916 ordinary shares at $8.69 apiece, plus pre-funded warrants for a further 4,315,304 shares. The offering is expected to close on August 26, 2026.
The fine print: Immatics granted underwriters a 30-day option to buy up to 2,589,184 additional shares. JefferiesDealroom has a profile for this one. Try Dealroom →, Leerink PartnersDealroom has a profile for this one. Try Dealroom →, and CantorDealroom has a profile for this one. Try Dealroom → are acting as joint book-running managers.
What's the endgame? Immatics describes itself as the "global leader in precision targeting of PRAME," an antigen it says is expressed in more than 50 cancers. Its clinical pipeline spans TCR T-cell therapies and TCR bispecifics.
The signal: The raise sits in the top 10% of post-IPO equity rounds for health companies in Germany over the past four years, a sign of continued investor appetite for late-stage cancer platforms.
Read more: Business Insider
Image credit: Generated with Gemini
