HOUSTON & TÜBINGEN, Germany—Immatics Biotechnologies GmbH and Celgene Corporation have begun a strategic collaboration and option agreement for the development of novel adoptive cell therapies against multiple cancers. Per the agreement, Celgene will pay Immatics $75 million up front for three programs, with the potential for up to $505 million for each licensed product. Immatics also stands to receive tiered royalties on net sales. Immatics can develop T-Cell Receptor Engineered T-Cell Therapy (TCR-T) programs against solid tumor targets discovered with its XPRESIDENT technology. If it does, the company will be responsible for developing and validating the programs through lead candidate stage, at which point Celgene can exercise opt-in rights and assume responsibility for further development, manufacturing and commercialization. Immatics would have certain co-development or co-funding rights for selected therapies that result from this deal.