Amgen and Immatics Biotechnologies GmbH announced a research collaboration and exclusive license agreement to develop next-generation, T-cell engaging bispecific immunotherapies targeting multiple cancers. The collaboration will combine Immatics' XPRESIDENT® target discovery and T-cell receptor (TCR) capabilities with Amgen's validated Bispecific T-cell Engager (BiTE®) technology with the aim of creating novel oncology drugs. Under the terms of the agreement, Immatics will receive an upfront fee of $30 million and is eligible to receive over $500 million in development, regulatory and commercial milestone payments for each program and tiered royalties up to a double-digit percentage of net sales.