UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.02 | Termination of a Material Definitive Agreement |
On May 5, 2025, IGM Biosciences, Inc. (the “Company”) received a notice of termination of that certain Collaboration and License Agreement (the “Agreement”), dated as of March 28, 2022, by and between the Company and Genzyme Corporation, a corporation organized under the laws of Massachusetts (“Sanofi”), pursuant to which Sanofi has elected to terminate the Agreement, at will, in its entirety. The effective date of the termination is thirty (30) days after the date of such notice.
Under the original terms of the Agreement, the Company had agreed to generate, develop, manufacture and commercialize IgM antibodies directed to six primary targets, three of which were oncology targets and three of which were immunology targets. The parties concluded that conducting further activities under the Agreement was not in the interests of either party.
| Item 7.01 | Regulation FD Disclosure |
In connection with the Agreement termination, the Company implemented an approximately 80% reduction in its remaining workforce and closed most of its remaining lab and office facilities to preserve cash. The Company continues to evaluate potential strategic alternatives and reorganization options.
The information furnished in this Item 7.01 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such a filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| IGM BIOSCIENCES, INC. | ||||||
| Date: May 8, 2025 | By: | /s/ Misbah Tahir | ||||
| Misbah Tahir Chief Financial Officer | ||||||