IGM Biosciences
- Country
- 🇺🇸United States
- Ownership
- Public
- Established
- 2010-01-01
- Employees
- 224
- Market Cap
- $606.8M
- Website
- http://www.igmbio.com
- Introduction
IGM Biosciences, Inc. operates as a biotechnology company, which develops antibodies for the treatment of cancer. It offers the IgM platform to expand upon the inherent properties of IgM antibodies and to allow for the rapid development of engineered therapeutic antibodies. The firm’s product pipeline includes IGM-2323, which is a CD20 x CD3 bispecific IgM antibody designed to treat patients with B cell Non-Hodgkin's lymphoma and other B cell malignancies, IGM-8444, which is an IgM antibody targeting Death Receptor 5 for the treatment of patients with solid and hematologic malignancies, and IGM-7354, which will target the delivery of IL-15 with the goal of inducing immune cell stimulation and proliferation. The company was founded in 2010 and is headquartered in Mountain View, CA.
IGM Biosciences Halts Autoimmune Programs, Imvotamab and IGM-2644, Following Disappointing Phase 1b Results
IGM Biosciences has stopped the development of imvotamab and IGM-2644 after Phase 1b trials showed insufficient B cell depletion in rheumatoid arthritis and lupus patients.
Biopharma Industry Faces Continued Layoffs in 2025 Amid Strategic Realignments
Biopharma companies continue to announce layoffs in 2025, driven by strategic realignments, pipeline reprioritizations, and challenging financial conditions.
Biopharma Job Market Shows Signs of Recovery Despite Continued Layoffs in 2024
• Biopharma job postings declined 16% year-over-year in Q4 2024, with at least 24,000 industry professionals laid off throughout the year, including major cuts at Johnson & Johnson, Bristol Myers Squibb, and Bayer. • Recent positive developments include venture investment reaching $26 billion across 416 rounds in 2024, up from $23.3 billion in 2023, breaking a two-year downward trend in venture capital spending. • Early 2025 has seen significant deal activity at the J.P. Morgan Healthcare Conference, with Eli Lilly, GSK, Gilead, and Johnson & Johnson announcing deals potentially worth over $15 billion combined.
Candid Therapeutics Launches with $370M to Advance Bispecific T-Cell Engagers for Autoimmune Diseases
• Candid Therapeutics launched with $370 million in funding to develop bispecific T-cell engagers for autoimmune diseases, acquiring two private biotechs, Vignette Bio and TRC 2004. • The company's pipeline includes two T-cell engagers, targeting BCMA and CD20, which have completed Phase 1 testing in cancer and are slated for autoimmune clinical trials next year. • Candid aims to offer a more commercially viable and convenient alternative to cell therapies for autoimmune diseases, leveraging the potential of bispecific antibodies. • CEO Ken Song believes T-cell engagers represent a transformative approach, citing encouraging case reports and growing industry interest in the field.