Immunome Inc. (Nasdaq: IMNM) is buying antibody-related assets from San Carlos, California-based biotech company Atreca Inc. (Nasdaq: BCEL).
Immunome, which announced the deal Tuesday, is paying $5.5 million upfront for the assets and an additional up to $7 million for clinical development milestones. Atreca needs stockholder approval for the deal.
"These antibody-related assets will expand our toolbox, complementing our existing programs as we advance our mission of developing innovative treatments for cancer patients,” Immunome CEO Clay Siegall said in a release.
Siegall took over as CEO of Morphimmune, previously based in West Lafayette, Indiana, in March. In June, Morphimmune announced a merger with Exton, Pennsylvania-based Immunome, and the combined company took the Immunome name and will be based in Bothell.
The biotech company recently decided to move into a space at the Alloy Innovation Center at 18912 North Creek Parkway S., but the move-in date is unclear.
Morphimmune and Immunome completed the merger and closed a $125 million private placement investment from institutional investors in October. Immunome is developing cancer therapies, and the company previously said it plans to submit three investigational new drug applications within 18 months of closing the private placement.
Atreca, meanwhile, was founded in 2011, according to its LinkedIn page. The company is developing a variety of cancer treatments, including a candidate in phase 1 clinical trials that is targeting lung and ovarian cancer, among others.
Siegall previously co-founded Bothell-based Seagen in 1997 as Seattle Genetics. He resigned as CEO, president and board member in May 2022 following an arrest on suspicion of domestic violence. The city prosecutor declined to file charges, citing evidence issues.
Seagen had four approved cancer drugs, which were aimed at Hodgkin lymphoma and bladder, breast and cervical cancer. Pharmaceutical giant Pfizer Inc. earlier this month closed its $43 billion acquisition of Seagen.
