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Immunome
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Updated Oct 5, 2026
Immunome eliminates BMS royalties and assigns varegacestat IP for $20M cash plus 4.4M shares
Immunome has fundamentally restructured its relationship with Bristol-Myers Squibb by acquiring full ownership of the varegacestat and AL101 patent portfolios. In exchange for $20 million in cash and 4.4 million shares of common stock, the company eliminated all future milestone and royalty payment obligations under a license dating to 2017. This transaction converts Immunome from a royalty-bearing licensee into an owner of two gamma-secretase inhibitor candidates, a structural shift that removes a persistent drag on commercial upside and establishes clearer IP control for future development and partnering decisions.
Tone: bullishRevenue
$6.9M
IMNM 10-K · FY 2025
Employees
177
Revenue FY2024
$9M
Founded
2006
Profile
IMNM 10-K Item 1 · Mar 3, 2026Immunome is a clinical-stage biotechnology company focused on developing first-in-class and best-in-class targeted oncology therapies, with deep expertise in antibody-drug conjugates (ADCs) and other oncology therapeutics. Its lead asset, varegacestat, is an oral gamma secretase inhibitor that met all primary and key secondary endpoints in a global Phase 3 trial for desmoid tumors, with an NDA submission planned for Q2 2026. The company also has a ROR1 ADC (IM-1021) in Phase 1, a FAP-targeted radioligand therapy (IM-3050) cleared for Phase 1, and three preclinical solid tumor ADCs.
Read filing description ↓ Collapse description ↑
We are a biotechnology company committed to the development of first-in-class and best-in-class targeted oncology therapies. Our goal is to establish a broad portfolio of differentiated clinical assets to improve the lives of cancer patients. Key to that strategy is our deep expertise in the discovery, design, development, manufacturing, and ultimately commercialization of antibody-drug conjugates and other oncology therapeutics. We are advancing a pipeline that includes three clinical assets and three preclinical assets. Varegacestat, formerly AL102, is an investigational, oral, once-daily gamma secretase inhibitor, or GSI. In December 2025, we announced positive topline results from the global pivotal Phase 3 RINGSIDE trial of varegacestat in patients with progressing desmoid tumors. We anticipate submitting a new drug application, or NDA, in the second quarter of 2026. IM-1021, a receptor tyrosine kinase-like orphan receptor 1, or ROR1, antibody-drug conjugate, is currently under evaluation in a Phase 1 trial. In November 2025, we reported observed objective responses at multiple dose levels in B-cell lymphoma patients treated with IM-1021, and we plan to share initial data in 2026. IM-3050, a fibroblast activation protein, or FAP, targeted radioligand therapy, or RLT, received IND clearance in April 2025, and we plan to initiate a Phase 1 trial in early 2026 after delivery of third-party diagnostic radiotracer supply. Our preclinical assets include three solid tumor ADCs with anticipated 2026 IND submissions: IM-1617, IM-1340, and IM-1335. Our approach to discovery centers on designing ADCs against novel or underexplored targets. We believe that pursuing differentiated targets provides a path to significant clinical benefit and meaningful market opportunities. HC74, our differentiated, novel topoisomerase 1, or TOP1, inhibitor payload, supports this strategy.
Primary products
- varegacestat (formerly AL102)
- IM-1021
- IM-3050
- IM-1617
- IM-1340
- IM-1335
End markets
Geographies
Named customers
Named competitors
“We expect to compete with oncology companies advancing small molecules, ADCs, targeted radiotherapies, antibodies, and other therapeutic modalities.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Collaboration revenue declined from $9.0 million in 2024 to $6.9 million in 2025, reflecting the termination of the AbbVie Collaboration Agreement in July 2025, after which no further collaboration revenue will be recognized.
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