Immunome eliminates BMS royalty obligations, acquires patent rights for $20M cash plus shares

Immunome paid Bristol-Myers Squibb $20 million in cash and issued 4.4 million shares to eliminate all milestone and royalty payment obligations under a license agreement dating to 2017, and to acquire full patent rights to varegacestat and AL101. This removes future cash drain from the Company's pipeline assets and converts contingent liabilities into equity, which may be viewed positively by growth-stage biotech investors, though the ~4.4M share issuance represents dilution that depends on current share count context.

Immunome paid $20 million to buy out all future royalties it owed to Bristol-Myers Squibb and gain full ownership of two drug candidates. This eliminates unpredictable future payments but uses cash and dilutes existing shareholders.