Immatics Presents Preclinical Proof-of-Concept Data for TCR Bispecifics Program IMA402 Targeting PRAME Immatics' second TCR Bispecifics program IMA402 demonstrates tumor cell killing in vitro and complete r

Immatics Presents Preclinical Proof-of-Concept

TCR Bispecifics Program IMA402 Targeting PRAME

Tuebingen, Germany and Houston, Texas, May

11, 2021 - Immatics N.V. (NASDAQ: IMTX, "Immatics"), a clinical-stage biopharmaceutical company active in the discovery

and development of T cell-redirecting cancer immunotherapies, today announced data from its second T cell receptor (TCR) Bispecifics

program, IMA402, supporting preclinical proof-of-concept for the program and further validating this proprietary therapeutic modality.

IMA402 is directed against the cancer target PRAME, a protein that is frequently expressed in many solid cancers, thereby supporting

the program's potential to address a broad cancer patient population. IMA402 is the second program originating from Immatics'

TCR Bispecifics pipeline, called TCER (T Cell Engaging Receptor). The lead candidate showed anti-tumor activity against PRAME-positive

cancer cells leading to consistent reduction of the engrafted tumors, including complete responses in an in vivo mouse model.

The preclinical data will be presented at the virtual 17th Annual PEGS Boston Protein Engineering and Cell Therapy Summit, on May 11-13,

Preclinical data highlights:

Carsten Reinhardt, M.D., Ph.D., Chief Development

Officer at Immatics commented: "Having generated a strong preclinical proof-of-concept data package for our second TCR Bispecifics

program is a significant milestone for Immatics. Together with our Adoptive Cell Therapy (ACT) program IMA203, which also targets PRAME,

we are attacking this ubiquitous cancer cell protein from two different angles using our distinct therapeutic modalities. Based on the

demonstrated preclinical data supporting significant single-agent activity of both of our TCER programs against established tumors,

we are looking forward to advancing our TCER candidates, IMA401 and IMA402, into the clinic with the aim to treat cancer patients

who have an urgent need for new treatment options."

For the IMA402 TCER program, Immatics has

initiated GMP process development activities to advance this program towards the Investigational New Drug (IND) stage and clinical development.

The company's first TCER program, IMA401 remains on track for submission of a clinical trial application (CTA) by year end

2021. The company had previously announced preclinical proof-of-concept data for IMA401 in last quarter of 2020.

The full presentation of preclinical data from

the IMA402 program is available on Immatics' website using this link.

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 a human

leukocyte antigen (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.

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.

Forward-Looking Statements:

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 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.

For more information,