Immatics Announces Full Year 2021 Financial Results and Corporate Update IMA203 TCR-T candidate targeting PRAME demonstrated a 50% objective response rate across different solid tumor types in an interim up

Immatics Announces Full Year 2021 Financial

and Corporate Update

Germany and Houston, TX, March 23, 2022 - Immatics N.V. (NASDAQ: IMTX; "Immatics"),

a clinical-stage biopharmaceutical company active in the discovery and development of T cell redirecting cancer immunotherapies, today

provided an update on its corporate progress and reported financial results for the quarter and full year ended December 31, 2021.

Ph.D., CEO and Co-Founder of Immatics commented, "Over the course of 2021, Immatics has continued to deliver important milestones

across both our clinical and preclinical portfolio. Our Phase 1a data presentation at SITC demonstrated high initial objective response

rates in solid cancer patients treated with our ACTengine IMA203 TCR-T candidate, and we have achieved preclinical proof-of-concept

for our TCR Bispecific candidate, TCER IMA402 - both targeting PRAME, a target frequently expressed on multiple

solid cancers. We have also expanded our collaboration with Bristol Myers Squibb to jointly develop our TCER IMA401 targeting

MAGEA4 and MAGEA8 and we plan to initiate the first-in-man clinical trial of IMA401 in the first half of 2022. Together with the company's

strong cash position and further potential opportunities to create valuable partnerships based on our differentiated TCR-based platforms,

we are very well positioned to deliver on all relevant upcoming value inflections points across our cell therapy and bispecifics portfolio."

1 Clinical Trial Application

(CTA) approved, the equivalent of an Investigational New Drug (IND) application in Europe

amounts translated using the exchange rate published by the European Central Bank in effect as of December 31, 2021 (1 EUR = 1.1326 USD)

2021 and Subsequent Company Progress

Cell Therapy Programs

Bispecifics Programs

Corporate Developments

Cash and cash equivalents as well as other financial assets total 145.1 million ($164.3 million2) as of December

31, 2021 compared to 232.0 million ($262.7 million2) as of December 31, 2020. The decrease is mainly the result of financing

of our ongoing research and development activities. This does not include $150 million cash received in February 2022 from the collaboration

agreement signed with Bristol Myers Squibb in December 2021. Adding this upfront payment, the Company projects a cash runway into 2024.

Total revenue, consisting of revenue from collaboration agreements, was 34.8 million ($39.4 million2)

for the year ended December 31, 2021, compared to 31.3 million ($35.4 million2)

for the year ended December 31, 2020.

Development Expenses: R&D expenses were 87.6 million ($99.2 million2) for the year ended December 31, 2021,

compared to 67.1 million ($76.0 million2) for the year ended December 31, 2020. The increase mainly resulted from higher

costs associated with the advancement of the clinical and pre-IND pipeline of candidates.

General and Administrative

Expenses: G&A expenses were 33.8 million ($38.3 million2) for the year ended December 31, 2021, compared to

34.2 million ($38.7 million2) for the year ended December 31, 2020.

Net loss was 93.3 million ($105.7 million2) for the year ended December 31, 2021, compared to 211.8 million ($239.9

million2) for the year ended December 31, 2020. The decrease mainly resulted from a one-time, non-cash expense in connection

with the ARYA merger in 2020 of 152.8 million ($173.0 million2).

Full financial statements

can be found in the Annual Report on Form 20-F filed with the Securities and Exchange Commission (SEC) and published on the SEC website

list of events and presentations, visit www.investors.immatics.com/events-presentations.

amounts translated using the exchange rate published by the European Central Bank in effect as of December 31, 2021 (1 EUR = 1.1326 USD).

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.

intends to use its website www.immatics.com as a means of disclosing material non-public information.

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 presentation 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.

more information, please contact:

Immatics N.V. and subsidiaries

Condensed Consolidated Statement of Financial Position of Immatics

Immatics N.V. and subsidiaries

Condensed Consolidated Statement of Loss of Immatics N.V.

Immatics N.V. and subsidiaries

Condensed Consolidated Statement of Comprehensive Loss of Immatics

Immatics N.V. and subsidiaries

Condensed Consolidated Statement of Cash Flows of Immatics N.V.

Immatics N.V. and subsidiaries

Condensed Consolidated Statement of Changes in Shareholders'

equity (deficit) of Immatics N.V.