Immunocore Holdings

Immunocore's ImmTAX platform engineers bispecific molecules that fuse a T cell receptor (TCR) targeting domain to an anti-CD3 effector domain. Unlike CAR-T therapies, ImmTAX molecules are off-the-shelf—no patient cell extraction required. Unlike checkpoint inhibitors such as Keytruda or Opdivo, which block PD-1/PD-L1 to reactivate exhausted T cells, ImmTAX molecules actively redirect any T cell to kill cancer cells presenting specific peptide-HLA targets. This enables targeting of intracellular proteins that antibodies cannot reach, which represent about 90% of the proteome.

Bahija Jallal, PhD, has served as CEO since January 2019. Previously she was President of MedImmune, AstraZeneca's global biologics R&D division, where she oversaw the development of durvalumab (Imfinzi). Earlier she held leadership roles at Aventis and Rhône-Poulenc Rorer. Her experience spans both early-stage R&D and commercial-stage oncology product launches, a combination that aligned with Immunocore's transition from clinical development to commercialization of Kimmtrak.

Immunocore Holdings plc is a publicly traded commercial-stage biotechnology company listed on Nasdaq under the ticker IMCR. It is not a family office, asset manager, or investment vehicle. It generates revenue from product sales of its approved drug, Kimmtrak, and from research collaborations with pharmaceutical partners. Altss has categorized it as an asset manager only for the purpose of this profile schema, reflecting that it deploys capital into its own R&D pipeline.

For the full year 2023, Immunocore reported $249 million in total revenue, including $219 million from Kimmtrak product sales and $30 million from collaborations. The company held approximately $450 million in cash and equivalents at year-end, with zero debt. Management guidance indicates the cash runway extends into 2027, funded by growing product revenue and ongoing milestone payments from partners including Genentech and Bristol Myers Squibb (per the company's 2023 annual report).

IMC-F106C, a PRAME-targeted ImmTAC molecule, is in a Phase 3 registrational trial for first-line cutaneous melanoma and Phase 1/2 trials in ovarian, non-small cell lung, and endometrial cancers. PRAME is expressed in multiple high-prevalence tumors. Earlier-stage programs include IMC-M113V, a bispecific TCR therapy for HIV being developed with support from the Gates Foundation, and IMC-S118AI for type 1 diabetes. The company has stated it expects multiple clinical data readouts in 2024–2025 (per pipeline disclosures, 2024).

Yes. Immunocore entered a collaboration with Genentech (Roche) in 2021 to develop ImmTAC molecules targeting undisclosed cancer antigens; the deal included a $100 million upfront payment. In 2022, Bristol Myers Squibb signed on to co-develop IMC-F106C with a $150 million upfront and up to $2.1 billion in milestones (per SEC filings, 2022). The company also has a relationship with the Bill & Melinda Gates Foundation for infectious disease applications. These non-dilutive funding sources reduce Immunocore's need for equity raises.

Immunocore is headquartered in Abingdon, Oxfordshire, United Kingdom, with its principal research and early development operations remaining in the UK. Its U.S. commercial and clinical development hub is in Rockville, Maryland. The company also maintains smaller offices in Conshohocken, Pennsylvania, and field-based commercial teams across the United States and Europe. The dual footprint reflects the company's origins as an Oxford University spinout and the commercial reality that the U.S. accounts for the majority of oncology drug revenue.