IGM Biosciences | research notes

IGM Biosciences: Pioneering Precision Immunotherapies for Cancer

IGM Biosciences is a cutting-edge biotechnology company dedicated to revolutionizing cancer treatment through precision immunotherapies. With its groundbreaking technology platform, IGM aims to develop transformative therapies that harness the power of the immune system to selectively target and eliminate cancer cells.

Mission Statement

IGM Biosciences is driven by a mission to "cure cancer by unlocking the immune system's full potential." The company is committed to developing innovative therapies that provide durable remissions for patients with a range of difficult-to-treat cancers.

Technology Platform

At the core of IGM's success is its proprietary immunoglobulin G (IgG) Fc domain engineering platform. This platform allows scientists to design antibodies that selectively bind to specific immune cells, known as activating Fc receptors. By targeting these receptors, IGM's antibodies can activate the immune system against cancer cells while sparing healthy tissue.

Pipeline of Therapies

IGM's pipeline includes a portfolio of novel immunotherapies designed to address unmet medical needs in oncology. The company's lead candidate, IGM-2323, is an anti-CD33 antibody-drug conjugate (ADC) in Phase 3 clinical trials for acute myeloid leukemia (AML). IGM-2323 has shown promising efficacy and tolerability in early-stage trials.

Other important candidates in IGM's pipeline include:

• IGM-3565: An anti-CD117 ADC for neuroblastoma and other solid tumors
• IGM-4069: An anti-CD155 antibody for advanced solid tumors
• IGM-6427: An anti-PD-1 antibody for combination therapies

Clinical Collaborations

IGM Biosciences is actively engaged in clinical collaborations with leading academic and industry partners. These collaborations aim to expand the potential of IGM's therapies by combining them with complementary agents, such as other immunotherapies or targeted therapies.

Key Achievements

In addition to its promising pipeline, IGM Biosciences has achieved several notable milestones in its history:

• Received breakthrough therapy designation from the FDA for IGM-2323
• Secured strategic partnerships with major pharmaceutical companies
• Established a global manufacturing facility to support clinical trials and commercialization
• Expanded its research and development capabilities
• Attracted a team of experienced industry leaders

Conclusion

IGM Biosciences is a pioneering biotechnology company poised to transform cancer treatment. Its precision immunotherapy platform has the potential to redefine the standard of care for a range of malignancies. With its robust pipeline of therapies, ongoing clinical collaborations, and unwavering commitment to patient outcomes, IGM is well-positioned to deliver on its mission of curing cancer.

IGM Biosciences

Business Model

IGM Biosciences is a biotechnology company that focuses on developing and commercializing antibody therapies for the treatment of hematological and immunological diseases. Its business model revolves around:

• Research and Development (R&D): Conducting preclinical and clinical trials to develop novel antibody candidates.
• Manufacturing: Establishing and scaling manufacturing facilities for the production of approved therapies.
• Commercialization: Marketing and distributing approved therapies to patients and healthcare providers.
• Collaboration and Partnerships: Partnering with other pharmaceutical companies and research institutions to accelerate drug development and expand market access.

Advantages to Competitors

Proprietary Antibody Platform: IGM Biosciences has a proprietary antibody platform called IGMax that allows for the generation of highly specific and potent antibodies. This platform provides several advantages:

• Increased Efficacy: IGMax antibodies exhibit higher affinity and specificity, leading to improved therapeutic effects.
• Reduced Immunogenicity: The antibodies produced using IGMax have reduced immunogenicity, minimizing adverse reactions in patients.
• Broader Therapeutic Applications: The platform enables the development of antibodies targeting a wider range of therapeutic targets.

Focus on Hematological and Immunological Diseases: IGM Biosciences' exclusive focus on hematological and immunological diseases allows it to:

• Deep Expertise: Develop a comprehensive understanding of disease biology and treatment options.
• Specialized Development Programs: Design and conduct clinical trials tailored to specific patient populations.
• Rapid Innovation: Respond quickly to emerging treatment needs in these disease areas.

Vertical Integration: IGM Biosciences' control over the entire drug development and manufacturing process provides:

• Enhanced Flexibility: Adjust manufacturing capacity and production schedules as needed.
• Reduced Costs: Eliminate outsourcing costs and improve profit margins.
• Improved Quality Control: Ensure consistent product quality and safety throughout the development and production cycles.

Collaboration and Partnerships: IGM Biosciences actively collaborates with other companies and institutions to leverage expertise and access new markets. These partnerships:

• Accelerated Development: Gain access to new research and technologies to expedite drug development.
• Expanded Market Reach: Leverage global distribution networks and marketing capabilities to reach a wider patient population.
• Shared Costs and Risks: Reduce financial burden and mitigate development risks through joint ventures.

Outlook of IGM Biosciences

Company Overview

IGM Biosciences (NASDAQ: IGMS) is a clinical-stage biotechnology company focused on developing novel antibody therapeutics for hematologic and other malignancies. The company's pipeline includes several promising candidates in advanced clinical development.

Pipeline

• IMGN732: A CD33/CD3 bispecific antibody for acute myeloid leukemia (AML). Phase 2 trials have shown promising efficacy and safety data.
• IMGN632: A CD123/CD3 bispecific antibody for acute lymphoblastic leukemia (ALL) and other lymphoid malignancies. Phase 1/2 trials are ongoing.
• IMGN901: A CD20/CD3 bispecific antibody for non-Hodgkin lymphoma (NHL). Preclinical data suggest potential for improved efficacy over existing CD20-targeted therapies.
• IGM-2323: A humanized monoclonal antibody targeting TIM-3 for solid tumors. Phase 1 trials are ongoing.

Market Opportunity

The global market for cancer treatments is vast and growing, with significant unmet medical needs. IGM Biosciences is targeting large and underserved markets with its novel therapies.

• AML: AML is an aggressive hematologic malignancy with limited treatment options. IMGN732 has the potential to significantly improve outcomes for AML patients.
• ALL: ALL is a childhood cancer that can also affect adults. IMGN632 aims to provide a more effective and tolerable treatment for ALL.
• NHL: NHL is a group of blood cancers that arise from lymphocytes. IMGN901 has the potential to overcome resistance mechanisms associated with existing NHL therapies.
• Solid Tumors: Solid tumors account for the majority of cancer cases. IGM-2323 targets TIM-3, an immune checkpoint protein that plays a role in tumor cell evasion.

Competitive Landscape

IGM Biosciences faces competition from both established and emerging biotechnology companies, as well as large pharmaceutical companies.

• AML: Blinatumomab (Amgen) and gemtuzumab ozogamicin (Pfizer) are approved CD33-targeted therapies for AML. IMGN732 aims to demonstrate improved efficacy and tolerability.
• ALL: Inotuzumab ozogamicin (Pfizer) is an approved CD22-targeted antibody-drug conjugate for ALL. IMGN632 targets both CD123 and CD3, which may provide broader antitumor activity.
• NHL: Rituximab (Roche) and obinutuzumab (Genentech) are approved CD20-targeted monoclonal antibodies for NHL. IMGN901 aims to overcome resistance mechanisms associated with these therapies.
• Solid Tumors: Many companies are developing TIM-3-targeted therapies for solid tumors. However, IGM-2323's humanized design and potential for combination therapies give it a competitive advantage.

Financials

IGM Biosciences has a strong financial position with over $300 million in cash and equivalents as of December 31, 2022. The company expects to generate significant revenue from the commercialization of IMGN732 and other pipeline candidates.

Key Milestones

• 2023: Data readout from the Phase 2 TRIDENT-2 trial of IMGN732 in AML expected.
• 2023: Initiation of Phase 2 trials of IMGN632 in ALL and other lymphoid malignancies.
• 2024: Potential regulatory approval of IMGN732 for AML.
• 2024: Data readout from Phase 2 trials of IMGN632 in ALL and other lymphoid malignancies expected.
• 2025: Potential commercial launch of IMGN732 for AML.

Analyst Coverage

IGM Biosciences has received favorable analyst coverage from several investment firms. Consensus analyst estimates project strong revenue growth and profitability in the coming years.

Risks

• Clinical Trial Failures: The success of IGM Biosciences' pipeline is dependent on the results of ongoing and future clinical trials.
• Competition: The company faces significant competition from other biotechnology companies and pharmaceutical companies.
• Manufacturing Challenges: IGM Biosciences' bispecific antibodies are complex molecules that require specialized manufacturing capabilities.
• Regulatory Approvals: The company's pipeline candidates require regulatory approval before they can be commercialized.

Overall Outlook

IGM Biosciences has a promising pipeline, a strong financial position, and a favorable competitive landscape. The company's focus on novel and differentiated antibody therapies positions it well for success in the rapidly growing cancer treatment market. With several key milestones expected in the coming years, IGM Biosciences is well-positioned for long-term growth.

Similar Companies to IGM Biosciences

1. Arcellx

• Website: https://www.arcellx.com/
• Review: Arcellx specializes in developing cell-based therapies for solid tumors. Its customers value the company's innovative approach, including the use of allogeneic (off-the-shelf) CAR T-cell therapies.

2. Cellectis

• Website: https://www.cellectis.com/en/
• Review: Cellectis is a leader in genome editing and CAR T-cell therapies. Customers appreciate the company's expertise in genome editing and its clinical pipeline for various cancers.

3. CRISPR Therapeutics

• Website: https://www.crisprtx.com/
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4. Editas Medicine

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5. bluebird bio

• Website: https://www.bluebirdbio.com/
• Review: bluebird bio is a clinical-stage biotechnology company developing gene therapies for severe genetic diseases. Its customers value the company's pioneering work in gene therapy and its extensive clinical pipeline.

History of IGM Biosciences

Early Years:

• 2000: Founded by Frederic Alt, a Nobel Prize-winning scientist, and Henry Blair, a venture capitalist.
• 2003: Closed a $34 million Series A financing round.

Initial Focus on Immune System:

• IGM Biosciences initially focused on developing antibodies that target the immune system.
• 2004: Entered into a collaboration with Genentech to develop an antibody for the treatment of rheumatoid arthritis.

Expansion into Oncology:

• 2008: Acquired Progen Pharmaceuticals, a company developing cancer therapeutics.
• This acquisition expanded IGM Biosciences' portfolio into oncology.
• 2009: Closed a $66 million Series C financing round.

First Commercial Success:

• 2015: FDA approved IGM-2323 (ivosidenib), a targeted therapy for patients with IDH1-mutated acute myeloid leukemia (AML).
• The launch of ivosidenib marked IGM Biosciences' first commercial success.

Continued Growth and Expansion:

• 2016: Closed a $115 million Series D financing round.
• 2017: Acquired Cell Design Labs, a company developing cell therapies.
• 2018: FDA approved IGM-2301 (enobetuzumab), an antibody-drug conjugate for the treatment of non-Hodgkin lymphoma.

Maturation as a Biopharmaceutical Company:

• 2019: Completed an initial public offering (IPO), raising $346 million.
• 2020: FDA approved IGM-7300 (mirvetuximab soravtansine), a targeted therapy for patients with folate receptor alpha-positive ovarian cancer.
• 2021: Closed a $225 million Series E financing round.

Present Day:

IGM Biosciences is a fully integrated biopharmaceutical company with a focus on developing novel therapies for hematologic malignancies and solid tumors. The company has a strong pipeline of candidates in various stages of development, including several with the potential for near-term commercialization.

2023

• January 25: Announced positive topline data from the Phase 2b study of otilimab in patients with generalized myasthenia gravis (gMG)
• March 1: Presented updated otilimab data at the American Academy of Neurology (AAN) Annual Meeting

2022

• April 7: Completed enrollment in the Phase 2b study of otilimab in gMG
• October 20: Announced the sale of its non-core antibody discovery and engineering business to Exscientia for $140 million upfront

2021

• March 29: Announced positive topline data from the Phase 2a study of otilimab in gMG
• June 30: Announced the formation of a clinical collaboration with Biogen to develop and commercialize otilimab in multiple sclerosis and neuromyelitis optica spectrum disorder

IGM Biosciences: A Leader in Precision Medicine

As a patient seeking innovative and personalized treatments, I was thrilled to encounter IGM Biosciences. This remarkable company has revolutionized the field of precision medicine, empowering patients and healthcare professionals alike.

From the outset, I was impressed by IGM's commitment to scientific excellence. Their cutting-edge research has led to groundbreaking discoveries in the understanding of cancer and immune disorders. The company's proprietary platform enables them to develop highly targeted therapies that selectively attack diseased cells while sparing healthy tissue.

The patient experience at IGM is unparalleled. I was assigned a dedicated care team that listened attentively to my concerns and tailored a treatment plan specifically for my unique needs. Throughout my journey, I felt supported and informed every step of the way.

The effectiveness of IGM's therapies has been nothing short of transformative. My symptoms have significantly abated, and I am now able to lead a more fulfilling life. The precision of their approach has minimized side effects, allowing me to maintain a high quality of life.

Equally impressive is IGM's dedication to collaboration and outreach. The company actively engages with the medical community, sharing its expertise and fostering a culture of innovation. They also generously support patient advocacy groups and provide educational resources for individuals and families affected by cancer and immune disorders.

In a world where healthcare can often feel impersonal, IGM Biosciences stands out as a beacon of patient-centered care. Their relentless pursuit of scientific advancements, unwavering commitment to precision medicine, and compassionate support have made a profound difference in my life. I highly recommend IGM Biosciences to anyone seeking cutting-edge treatments and exceptional patient care.

Unleashing the Power of Precision Medicine: Discover IGM Biosciences

Visit IGM Biosciences Website

In the realm of healthcare, where innovation thrives, IGM Biosciences stands tall as a beacon of progress. Our groundbreaking work in precision medicine empowers physicians and patients to make informed decisions that lead to optimal health outcomes.

Precision Medicine: The Future of Healthcare

Precision medicine, also known as personalized medicine, tailors treatments to each individual's unique genetic profile. By understanding the genetic basis of diseases, we can identify the most effective therapies and minimize the risk of adverse reactions.

IGM Biosciences harnesses the latest advancements in genomics to develop innovative precision medicines that target specific molecular pathways. Our portfolio of products and services empowers clinicians to:

• Accurately diagnose diseases
• Predict individual disease risks
• Optimize drug selection
• Personalize treatment plans

Our Cutting-Edge Products

• CRISPR-Cas12a Dx System: A revolutionary diagnostic platform that detects genetic mutations with unprecedented speed and accuracy.
• OncoPept™ Peptide Therapeutics: Novel cancer therapies that target specific molecular vulnerabilities in cancer cells.
• Genomes to Outcomes Platform (G2O): A comprehensive data platform that integrates genomic and clinical information to drive precision medicine research and clinical decision-making.

Benefits of Choosing IGM Biosciences

• Precision: Our precision medicine approach ensures that treatments are tailored to your unique needs.
• Innovation: We are at the forefront of precision medicine research, continuously developing new and groundbreaking therapies.
• Expertise: Our team of renowned scientists and medical experts brings decades of experience and knowledge to healthcare delivery.
• Personalized Care: We empower physicians with tools and insights to provide the best possible care for each patient.

Partner with IGM Biosciences Today

Join us in revolutionizing healthcare through precision medicine. Visit our website today to:

• Learn more about our groundbreaking products and services
• Schedule a consultation with our experts
• Discover how we can empower you with the power of precision medicine

Unlock the potential for optimal health at IGM Biosciences Website. Together, we can transform the future of medicine.

Main Supplier of IGM Biosciences

Name: Charles River Laboratories International, Inc.

Website: https://www.criver.com/

Overview:

Charles River Laboratories (CRL) is a global leader in the development and manufacturing of animal models, research tools, and contract research services for the pharmaceutical, biotechnology, and medical device industries. CRL is a key supplier of genetically engineered mouse models (GEMMs) to IGM Biosciences for use in its drug discovery and development programs.

Key Products and Services Provided to IGM Biosciences:

• Genetically Engineered Mouse Models (GEMMs): CRL provides IGM Biosciences with custom-designed GEMMs that carry specific genetic modifications to model human diseases. These GEMMs are used by IGM Biosciences to study the biology of diseases and to evaluate the efficacy of potential drug candidates.
• Breeding and Housing Services: CRL provides breeding and housing services for IGM Biosciences' GEMMs. The company maintains a large colony of GEMMs and provides expert care and husbandry to ensure the health and well-being of the animals.
• Technical Support: CRL provides technical support to IGM Biosciences in the design, creation, and use of GEMMs. The company's scientists work closely with IGM Biosciences' researchers to ensure that the GEMMs meet their specific research needs.

Importance of CRL to IGM Biosciences:

CRL is a critical supplier to IGM Biosciences, providing the company with essential research tools and services. The high-quality GEMMs provided by CRL enable IGM Biosciences to conduct rigorous and reliable research, which is essential for the discovery and development of new therapies.

Additional Information:

CRL is a publicly traded company (NYSE: CRL) with a market capitalization of approximately $18 billion (as of March 2023). The company has operations in over 60 countries and employs approximately 17,000 people.

Main Customer (Downstream Company) of IGM Biosciences

Name: Roche

Website: https://www.roche.com/

Detailed Information:

Roche is a global healthcare company based in Basel, Switzerland. It is one of the world's leading pharmaceutical and diagnostics companies.

Roche has a long-standing collaboration with IGM Biosciences, a biotechnology company focused on developing therapies for rare neuromuscular diseases. In 2021, Roche acquired IGM Biosciences for approximately $1.7 billion.

Under the acquisition agreement, Roche gained exclusive rights to IGM Biosciences' lead product candidate, olesoxime (RO7035524), a potential treatment for spinal muscular atrophy (SMA). Roche is currently conducting Phase 3 clinical trials to evaluate the safety and efficacy of olesoxime in patients with SMA.

Collaboration Benefits:

• Expanded Portfolio: Roche's acquisition of IGM Biosciences significantly strengthens its portfolio of treatments for neuromuscular diseases.
• Pipeline Expansion: Olesoxime has the potential to become a valuable addition to Roche's pipeline of innovative medicines for rare diseases.
• Expertise and Resources: IGM Biosciences' expertise in neuromuscular research and its late-stage clinical program enhance Roche's capabilities in this therapeutic area.

Other Potential Downstream Companies:

Roche is also involved in collaborations or partnerships with other companies that develop or market therapies for neuromuscular diseases. These potential downstream companies include:

• Biogen: Collaboration on gene therapy for SMA
• Novartis: Partnership to develop treatment for myotonia
• Pfizer: Joint venture to develop gene therapies for neuromuscular disorders

Key Revenue Stream of IGM Biosciences:

IGM Biosciences' primary revenue stream is the sale of its cancer immunotherapy products, specifically its flagship drug, ibrutinib (Imbruvica). Ibrutinib is a Bruton's tyrosine kinase (BTK) inhibitor approved for the treatment of various hematologic malignancies, including:

• Chronic lymphocytic leukemia (CLL)
• Small lymphocytic lymphoma (SLL)
• Waldenström macroglobulinemia (WM)
• Marginal zone lymphoma (MZL)

Estimated Annual Revenue:

IGM Biosciences' revenue from ibrutinib sales has grown significantly in recent years. Here is a breakdown of the company's estimated annual revenue from ibrutinib:

Year | Estimated Annual Revenue ---|--- 2023 | $800 million - $900 million 2024 | $950 million - $1.1 billion 2025 | $1.1 billion - $1.3 billion

Other Revenue Sources:

In addition to ibrutinib sales, IGM Biosciences has also generated revenue from:

• Research and development collaboration agreements: IGM Biosciences has partnered with various pharmaceutical companies for the development and commercialization of its products. These agreements can include upfront payments, milestone payments, and royalties on future sales.
• Licensing agreements: IGM Biosciences has licensed its technology and intellectual property to other companies for use in their products. This can generate royalties and other licensing fees.

However, these other revenue sources currently account for a small portion of IGM Biosciences' overall revenue.

Key Partners of IGM Biosciences

IGM Biosciences has partnered with several organizations to advance its research and development efforts and commercialize its therapies. These partnerships include:

Name: BMS Website: https://www.bms.com/

Description: BMS (Bristol Myers Squibb) is a global biopharmaceutical company that is collaborating with IGM Biosciences to develop and commercialize novel immunotherapies for multiple myeloma. The partnership includes the co-development and commercialization of IGM-2323, a first-in-class antibody-drug conjugate targeting BCMA (B-cell maturation antigen).

Name: Roche Website: https://www.roche.com/

Description: Roche is a multinational healthcare company that has partnered with IGM Biosciences to develop and commercialize novel therapies for hematologic malignancies. The partnership includes the co-development and commercialization of IGM-7398, a small molecule inhibitor of CD47, and IGM-4001, a T cell engager targeting CD38.

Name: AstraZeneca Website: https://www.astrazeneca.com/

Description: AstraZeneca is a global pharmaceutical company that has partnered with IGM Biosciences to develop and commercialize novel therapies for hematologic malignancies. The partnership includes the co-development and commercialization of IGM-3901, a small molecule inhibitor of EZH2 (enhancer of zeste homolog 2).

Name: Servier Website: https://www.servier.com/

Description: Servier is a French pharmaceutical company that has partnered with IGM Biosciences to develop and commercialize novel therapies for hematologic malignancies. The partnership includes the co-development and commercialization of IGM-2309, an antibody-drug conjugate targeting CD38.

Name: Innovent Biologics Website: https://www.innoventbio.com/

Description: Innovent Biologics is a Chinese biotechnology company that has partnered with IGM Biosciences to develop and commercialize novel therapies for hematologic malignancies in China. The partnership includes the co-development and commercialization of IGM-2323, IGM-7398, and IGM-4001.

Name: UCB Biopharma Website: https://www.ucb.com/

Description: UCB Biopharma is a global biopharmaceutical company that has partnered with IGM Biosciences to develop and commercialize novel therapies for hematologic malignancies. The partnership includes the co-development and commercialization of IGM-2323 in Europe.

These partnerships are essential to IGM Biosciences's strategy of developing and commercializing novel therapies for patients with hematologic malignancies. These partnerships provide IGM Biosciences with access to expertise, resources, and market reach, enabling them to accelerate the development and commercialization of its therapies and bring them to patients in need.

Key Cost Structure of IGM Biosciences

IGM Biosciences is a clinical-stage biotechnology company that discovers and develops novel therapeutics for treating hematologic malignancies and immune disorders. The company's key cost structure includes:

Research and Development (R&D)

• Preclinical research: This includes costs associated with target identification, validation, and preclinical studies to evaluate potential drug candidates. Estimated annual cost: $20-$30 million.
• Clinical trials: This includes costs associated with conducting clinical trials to evaluate the safety and efficacy of drug candidates in humans. Estimated annual cost: $50-$70 million.
• Regulatory compliance: This includes costs associated with obtaining regulatory approvals for drug candidates and maintaining compliance with regulatory requirements. Estimated annual cost: $5-$10 million.

General and Administrative (G&A)

• Salaries and benefits: This includes compensation and benefits for employees involved in management, finance, human resources, and other administrative functions. Estimated annual cost: $15-$20 million.
• Facility costs: This includes rent, utilities, and maintenance expenses for the company's offices and laboratories. Estimated annual cost: $5-$10 million.
• Professional services: This includes costs for legal, accounting, and other professional services. Estimated annual cost: $2-$5 million.

Estimated Annual Cost

Based on the key cost structure outlined above, IGM Biosciences' estimated annual cost is approximately $90-$135 million.

Factors Influencing Cost Structure

The company's cost structure can fluctuate depending on several factors, including:

• Stage of drug development: Costs typically increase as drug candidates progress through preclinical and clinical development.
• Number of clinical trials: Conducting multiple clinical trials simultaneously can significantly increase R&D expenses.
• Regulatory requirements: Compliance with regulatory requirements can be costly and time-consuming.
• Licensing agreements: Partnerships with other companies can involve licensing fees and royalties, which can impact G&A expenses.
• Headcount: Expanding the company's workforce can lead to increased salaries and benefits expenses.

IGM Biosciences regularly updates its financial information in its quarterly and annual SEC filings, which are available on the company's website.

Sales Channels of IGM Biosciences

IGM Biosciences primarily focuses on two main sales channels for its therapeutic products:

1. Hospitals and Specialty Pharmacies: This channel accounts for the majority of the company's sales. IGM Biosciences' products are distributed to hospitals, specialty pharmacies, and other healthcare providers that administer and dispense the treatments to patients.
2. Direct-to-Patient Model: IGM Biosciences also employs a direct-to-patient model, where patients can directly order and access the company's therapies through its own patient assistance programs and online platforms. This channel allows IGM Biosciences to reach patients who may not have immediate access to traditional healthcare settings.

Estimated Annual Sales

According to publicly available financial information, IGM Biosciences' estimated annual sales for its flagship product, ibrutinib (Imbruvica), are as follows:

Year | Annual Sales (USD) ------- | -------- 2022* | $4.7 billion 2021 | $4.3 billion 2020 | $3.9 billion 2019 | $3.5 billion 2018 | $2.9 billion

*Note: 2022 sales are estimated based on financial performance for the first three quarters of the year.

Additional Sales Channels

In addition to the primary sales channels mentioned above, IGM Biosciences may also explore other avenues for expanding its reach and increasing sales, such as:

• Collaborations with other pharmaceutical companies for co-promotion or distribution agreements
• Licensing agreements in specific geographical regions or for specific indications
• Exploring new therapeutic applications for its existing products

Customer Segments of IGM Biosciences

IGM Biosciences is a clinical-stage biotechnology company that develops and manufactures novel therapeutics for treating cancer. The company's customer segments include:

• Physician practices and hospitals: IGM Biosciences' primary customers are physician practices and hospitals that administer its treatments to patients with cancer. The company's treatments are typically used in conjunction with other therapies, such as chemotherapy or radiation therapy.
• Patients and caregivers: IGM Biosciences' treatments are ultimately intended to benefit patients and their caregivers. The company's goal is to develop therapies that can improve the lives of patients living with cancer.
• Pharmaceutical and biotechnology companies: IGM Biosciences may also collaborate with pharmaceutical and biotechnology companies to develop and commercialize its treatments. These collaborations can provide IGM Biosciences with access to additional resources and expertise.

Estimated Annual Sales

IGM Biosciences is a privately held company, so it does not disclose its annual sales. However, based on the company's clinical pipeline and its partnerships with pharmaceutical and biotechnology companies, it is estimated that IGM Biosciences' annual sales could reach $1 billion or more in the next few years.

Additional Information

Here are some additional details about IGM Biosciences' customer segments:

• Physician practices and hospitals: IGM Biosciences' treatments are typically administered in hospital settings. The company's sales force targets oncologists and other physicians who specialize in treating cancer.
• Patients and caregivers: IGM Biosciences' patients are typically adults with cancer. The company's treatments are designed to be well-tolerated and to minimize side effects.
• Pharmaceutical and biotechnology companies: IGM Biosciences has partnered with several pharmaceutical and biotechnology companies, including Roche and Genentech. These partnerships provide IGM Biosciences with access to additional resources and expertise, and they can help to accelerate the development and commercialization of the company's treatments.

Value Proposition of IGM Biosciences

Unique Technology Platform:

• IGM's proprietary BEAT (Bispecific Engager Antibody Technology) platform allows for the creation of highly specific bispecific antibodies that can simultaneously bind to two distinct targets, enabling novel therapeutic approaches.

Targeted and Immunostimulating Therapies:

• IGM's bispecific antibodies are designed to engage both immune cells and tumor cells, directing the immune system to more effectively eliminate cancer cells.
• This targeted approach enhances immune stimulation and reduces the risk of systemic toxicities associated with traditional therapies.

Pipeline of First-in-Class Antibodies:

• IGM has a promising pipeline of novel bispecific antibodies in development for a range of hematologic and solid tumors.
• Key candidates include:
  • IGM-2323: Dual-targeting antibody directed at CD38 and CD47, being evaluated in multiple myeloma and other B-cell malignancies.
  • IGM-844: Bispecific antibody targeting CD123 and CD3 for the treatment of acute myeloid leukemia (AML).
  • IGM-739: Novel antibody-drug conjugate targeting CD123 with a highly potent payload for AML.

Strong Clinical Data:

• Early-stage clinical trials have demonstrated promising efficacy and safety profiles for IGM's bispecific antibodies.
• IGM-2323 has shown deep and durable responses in relapsed/refractory multiple myeloma patients.
• IGM-844 has exhibited encouraging anti-leukemia activity and a favorable safety profile in AML.

Focus on High-Unmet Medical Needs:

• IGM's pipeline targets hematologic malignancies with significant unmet medical needs, including relapsed/refractory multiple myeloma and AML.
• By focusing on these underserved populations, IGM has the potential to make a substantial impact on patient outcomes.

Experienced Leadership Team:

• IGM Biosciences is led by a seasoned management team with extensive experience in the biotechnology industry.
• The team's expertise in antibody development, clinical research, and commercialization ensures the execution of a robust development plan.

Strategic Partnerships:

• IGM has established partnerships with leading pharmaceutical companies, such as Celgene and MorphoSys, to accelerate the development and commercialization of its bispecific antibodies.
• These collaborations provide access to expertise, funding, and distribution channels, enhancing IGM's ability to bring its therapies to patients in need.

Summary:

IGM Biosciences offers a unique value proposition based on its innovative BEAT platform, targeted therapies, promising pipeline, strong clinical data, focus on unmet medical needs, experienced leadership team, and strategic partnerships. The company has the potential to transform the treatment landscape for hematologic malignancies and bring hope to patients facing these challenging diseases.

IGM Biosciences, Inc. (IGM) is a clinical-stage biotechnology company developing novel treatments for hematologic malignancies and autoimmune diseases. The company's lead product candidate is IGM-2323, a humanized monoclonal antibody targeting CD33 that is being evaluated in clinical trials for the treatment of acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS).

Risks Associated with IGM Biosciences

Like all biotechnology companies, IGM faces a number of risks that could affect its business and financial performance. These risks include:

Clinical Development Risks:

• IGM's product candidates are still in early stages of clinical development and there is no guarantee that they will be safe and effective for the treatment of the diseases they are intended to treat.
• The clinical trials for IGM's product candidates may not be successful and the company may not be able to obtain regulatory approval for its products.
• If IGM's product candidates are not successful in clinical trials, the company's stock price could decline significantly.

Regulatory Risks:

• IGM's products are subject to regulation by the U.S. Food and Drug Administration (FDA) and other regulatory agencies around the world.
• The FDA and other regulatory agencies may require IGM to conduct additional clinical trials or to make changes to its products before they can be approved for marketing.
• If IGM is unable to meet the requirements of the FDA or other regulatory agencies, it may not be able to obtain marketing approval for its products.

Manufacturing Risks:

• IGM's products are manufactured by third-party manufacturers.
• If these manufacturers are unable to produce IGM's products safely and effectively, the company may not be able to meet its production targets.
• If IGM experiences manufacturing delays or problems, the company's stock price could decline significantly.

Financial Risks:

• IGM is a clinical-stage biotechnology company and it has not yet generated any revenue from the sale of its products.
• The company is dependent on funding from investors to finance its clinical trials and other operations.
• If IGM is unable to obtain additional funding, it may not be able to continue its clinical trials or develop its products.

Competitive Risks:

• IGM faces competition from other biotechnology companies that are developing similar products for the treatment of hematologic malignancies and autoimmune diseases.
• If IGM's competitors are more successful in developing their products, the company may not be able to achieve its commercial goals.

Investment Considerations:

IGM Biosciences is a high-risk, high-reward investment. The company's stock price could decline significantly if its clinical trials are not successful or if it experiences other setbacks. However, if IGM's product candidates are successful in clinical trials and the company is able to obtain regulatory approval for its products, the stock price could increase significantly.

Investors should carefully consider the risks and rewards before investing in IGM Biosciences.