Immatics and Bristol Myers Squibb Enter Into Global Exclusive License for Immatics' TCR Bispecific Program IMA401 Bristol Myers Squibb secures global exclusive license to Immatics' TCR bispecific program IM

and Bristol Myers Squibb Enter Into Global Exclusive License for Immatics' TCR Bispecific Program IMA401

Houston & New York - December 14, 2021 - Immatics

N.V. (NASDAQ: IMTX, "Immatics"), a clinical-stage biopharmaceutical company active in the discovery and development

of T cell-redirecting cancer immunotherapies, and Bristol Myers Squibb (NYSE: BMY), today announced that they have entered into a license,

development and commercialization agreement (the "agreement") for Immatics' TCR Bispecific candidate, IMA401.

Under the terms of the agreement, Immatics will

receive an upfront payment of $150 million as well as up to $770 million in development, regulatory and commercial milestone payments,

in addition to tiered double-digit royalty payments on net sales of IMA401. Immatics retains the options to co-fund U.S. development in

exchange for enhanced U.S. royalty payments and/or to co-promote IMA401 in the US.

IMA401 is the most advanced product candidate in

Immatics' TCR Bispecifics pipeline, called TCER (T Cell Engaging Receptors), in which one binding region targets

MAGEA4/8, a highly prevalent antigen in multiple solid tumors, and the other region engages and activates T cells. In preclinical proof-of-concept

studies, IMA401 has shown anti-tumor activity with complete remissions in various in vivo tumor models including patient-derived

xenograft models. The agreement outlines a development plan under which both companies will collaborate to advance the program through

clinical development.

In November 2021, Immatics filed a Clinical Trial

Application (CTA)1 with Paul-Ehrlich-Institute (PEI), the German federal regulatory authority, for the development of IMA401.

The clinical trial, which is planned to commence in the first half of 2022, will enroll patients across various solid tumor types.

1 Clinical Trial Application - the European

equivalent of an Investigational New Drug (IND) application

"At Immatics, we are committed to our goal

of delivering meaningful clinical benefits to cancer patients, and based on the promising preclinical data, we see remarkable potential

for our TCER platform" said Carsten Reinhardt, M.D., Ph.D., Chief Development Officer at Immatics. "We are

delighted to extend our existing collaboration with Bristol Myers Squibb to the IMA401 program and view this as an important validation

of the therapeutic potential of our TCER approach. Bristol Myers Squibb's global clinical development and commercialization

capabilities in oncology make them the ideal partner for the further development of IMA401."

"We are pleased to expand our collaboration

with Immatics to now include IMA401," said Teri Foy, Senior Vice President, Research and Early Development, Immuno-Oncology and

Cell Therapy at Bristol Myers Squibb. "TCER s are an important, emerging modality for solid tumors with the potential

for cell therapy-like efficacy in an off-the-shelf platform offering potentially broader patient access. We look forward to advancing

IMA401 into the clinic to further assess its potential as an innovative medicine to help patients prevail over serious diseases."

a strategic collaboration in 2019 with Celgene Corporation, a wholly owned subsidiary of Bristol-Myers Squibb Company, to develop novel

adoptive cell therapies. This new collaboration to develop Immatics' Bispecific candidate TCER IMA401 complements

ongoing cell therapy activities - both therapeutic modalities built on Immatics' capabilities to identify novel targets and develop

high-affinity, target-specific TCRs. The terms of the current agreement regarding Immatics' TCER IMA401 program

exclude any MAGEA4/8 targets for cell therapy. The agreement is subject to customary clearance by antitrust regulators.

IMA401 is Immatics' half-life extended TCER

molecule that targets an HLA-A*02-presented (human leukocyte antigen) peptide derived from two different cancer-associated proteins, melanoma-associated

antigen 4 and/or 8 ("MAGEA4/8"). MAGEA4/8 is highly prevalent in several solid tumor types including squamous non-small-cell

lung carcinoma, head and neck squamous cell carcinoma, bladder, uterine, esophageal and ovarian carcinomas, as well as melanoma, sarcoma

subtypes and other solid cancer types.

Immatics' TCER molecules

are antibody-like "off-the-shelf" biologics that leverage the body's immune system by redirecting and activating T cells

towards cancer cells expressing a specific tumor target. To do so, the proprietary biologics are engineered to have two binding regions.

The first region contains an affinity- and stability-improved TCR that binds specifically to the cancer

target on the cell surface presented by an HLA

molecule. The second region is derived from an antibody domain that recruits endogenous T cells to the tumor to become activated. The

design of the TCER molecules enables the activation of any T cell in the body to attack the tumor, regardless of the T

cells' intrinsic specificity. In addition, the TCER molecule has a Fc-part conferring stability, half-life extension

and enhanced manufacturability.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical

company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more

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Immatics combines the discovery of true targets

for cancer immunotherapies with the development of the right T cell receptors with the goal of enabling a robust and specific T cell response

against these targets. This deep know-how is the foundation for our pipeline of Adoptive Cell Therapies and TCR Bispecifics as well as

our partnerships with global leaders in the pharmaceutical industry. We are committed to delivering the power of T cells and to unlocking

new avenues for patients in their fight against cancer.

For regular updates about Immatics, visit www.immatics.com.

Bristol Myers Squibb

Cautionary Statement Regarding Forward-Looking Statements:

This press release contains "forward-looking

statements" within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, the research,

development and commercialization of pharmaceutical products and the agreement. All statements that are not statements of historical facts

are, or may be deemed to be, forward-looking statements. Such forward-looking statements are based on historical performance and current

expectations and projections about our future financial results, goals, plans and objectives and involve inherent risks, assumptions and

uncertainties, including internal or external factors that could delay, divert or change any of them in the next several years, that are

difficult to predict, may be beyond our control and could cause our future financial results, goals, plans and objectives to differ materially

from those expressed in, or implied by, the statements. These risks, assumptions, uncertainties and other factors include, among others,

expected benefits of, and opportunities related

to, the agreement may not be realized by Bristol Myers Squibb or may take longer to realize than anticipated, that Bristol Myers Squibb

may fail to discover and develop any commercially successful product candidates for IMA401 through the agreement, that IMA401 may not

receive regulatory approval for the indications described in this release in the currently anticipated timeline or at all, and if approved,

whether such treatment for such indications described in this release will be commercially successful, and that the agreement will receive

clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. No forward-looking statement can be guaranteed. Forward-looking

statements in this press release should be evaluated together with the many risks and uncertainties that affect Bristol Myers Squibb's

business and market, particularly those identified in the cautionary statement and risk factors discussion in Bristol Myers Squibb's

Annual Report on Form 10-K for the year ended December 31, 2020, as updated by our subsequent Quarterly Reports on Form 10-Q, Current

Reports on Form 8-K and other filings with the Securities and Exchange Commission. The forward-looking statements included in this document

are made only as of the date of this document and except as otherwise required by applicable law, Bristol Myers Squibb undertakes no obligation

to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances

Immatics Forward-Looking

Certain statements in this press release may be

considered forward-looking statements. Forward-looking statements generally relate to future events or Immatics' future financial

or operating performance. For example, statements concerning the timing of product candidates and Immatics' focus on partnerships

to advance its strategy are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such

as "may", "should", "expect", "intend", "will", "estimate", "anticipate",

"believe", "predict", "potential" or "continue", or the negatives of these terms or variations

of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause

actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements

are based upon estimates and assumptions that, while considered reasonable by Immatics and its management, are inherently uncertain. New

risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Factors that may

cause actual results to differ materially from current expectations include, but are not limited to, various factors beyond management's

control including general economic conditions and other risks, uncertainties and factors set forth in filings with the SEC. Nothing in

this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved

or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking

statements, which speak only as of the date they are made. Immatics undertakes no duty to update these forward-looking statements.

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