Adaptimmune jumps on deal with Roche to develop cancer therapies

Adaptimmune Therapeutics

07/09/2021 16:34

(Updates)
    ** Shares of cancer immunotherapy developer  ADAP.O  jump
16% to $5.73
    ** Co enters strategic collaboration and license agreement
with Roche Holding's  ROG.S  unit, Genentech, to develop and
commercialize T-cell therapies for multiple cancers  urn:newsml:reuters.com:*:nGNXd84rY
    ** ADAP to receive an upfront payment of $150 mln and
additional payments of $150 mln over five years
    ** ADAP may also be eligible for milestone payments
potentially exceeding $3 bln in total value
    ** Brokerage Guggenheim says deal could help validate ADAP's
therapy platform and revive investor interest in co, adding that
deal came as a surprise as co's platform is still in early-stage
development
    ** Brokerage believes the deal underscores Genentech's
commitment to the cell therapy space and fits in well with its
cancer therapy development agreement with Adaptive
Biotechnologies  ADPT.O  in 2019 (https://bwnews.pr/3n9rS72)
    ** Stock up 6.3% YTD, including session's gains

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))