On June 1, 2022, a subsidiary of Immatics N.V., Immatics US Inc., entered into a Collaboration Agreement with a subsidiary of Bristol-Myers Squibb Company Celgene Switzerland LLC, relating to the development of multiple allogeneic off-the-shelf TCR-T and/or CAR-T programs. Pursuant to the Agreement, Bristol-Myers Squibb has the initial right, but not the obligation, to designate up to two receptors and associated targets selected from (i) T-cell receptors and associated TCR targets that are the subject of the Company's 2019 strategic collaboration and license agreement with Bristol-Myers Squibb and (ii) chimeric antigen receptors and associated CAR targets provided by BMS for development as allogeneic cell therapy products as set forth in a mutually agreed research plan. Up to the ten year anniversary of the Agreement, Bristol-Myers Squibb may additionally designate up to four additional such TCRs and associated TCR targets and/or CARs and associated CAR targets for development solely by Bristol-Myers Squibb as allogeneic cell therapy products After preclinical development of the Initial BMS Products, for which Immatics will be responsible, Bristol-Myers Squibb will be responsible for, and bear the cost of, the remaining development and commercialization. Bristol-Myers Squibb also will be responsible for, and bear the cost of, the development and commercialization of any Additional BMS Products.

Further, pursuant to the Agreement, prior to the ten year anniversary of the Agreement, Immatics has the right, but not the obligation, to designate up to four TCRs that are not subject to the Agreement or the Company's 2019 strategic collaboration and license agreement with Bristol-Myers Squibb for collaboration with Bristol-Myers Squibb on their development as allogeneic cell therapy products Immatics will be responsible for, and bear the cost of, the development and commercialization of any Immatics Products; provided that Bristol-Myers Squibb has a right to opt-in to co-develop and co-commercialize one of the first two such Immatics Products. Bristol-Myers Squibb will pay to Immatics a $60 million upfront payment. Immatics is also eligible to receive additional payments for certain activities that Immatics could perform at Bristol-Myers Squibb's request and for Bristol-Myers Squibb's designation of additional CARs and/or TCRs for development, as described above.

Further, Immatics is also eligible to receive milestone payments of up to $700 million depending on product characteristics and the achievement of certain regulatory and commercial milestones. In addition, during the royalty term (as described below) and depending on certain product characteristics, (i) Immatics will be eligible to receive tiered, mid-single-digit up to low double-digit percentage royalties on worldwide net sales of BMS Products, and (ii) Bristol-Myers Squibb will be eligible to receive tiered, low- to mid-single-digit percentage royalties on worldwide net sales of Immatics Products except in the case of an Immatics Product for which Bristol-Myers Squibb is co-developing and co-commercializing. The royalty percentages described above are subject to reduction in a given country under certain circumstances, including, but not limited to, the introduction of biosimilar products and third party license costs.