Brief: Adaptimmune Enters Into Strategic Collaboration With Genentech

Adaptimmune Therapeutics

07/09/2021 12:00

Sept 7 (Reuters) - AdaptImmune  ADAP.O : 
    * ADAPTIMMUNE ENTERS INTO STRATEGIC COLLABORATION WITH
GENENTECH
TO RESEARCH, DEVELOP, COMMERCIALIZE CANCER-TARGETED ALLOGENEIC
T-CELL THERAPIES
    * ADAPTIMMUNE - COLLABORATION COVERS DEVELOPMENT OF NOVEL
ALLOGENEIC PERSONALIZED CELL THERAPY PLATFORM
    * ADAPTIMMUNE - GENENTECH WILL BE RESPONSIBLE FOR INPUT TCRS
&
SUBSEQUENT CLINICAL DEVELOPMENT, COMMERCIALIZATION
    * ADAPTIMMUNE - WILL RECEIVE UPFRONT PAYMENT OF $150
MILLION,
ADDITIONAL PAYMENTS OF $150 MILLION OVER 5 YRS, UNLESS AGREEMENT
IS EARLIER TERMINATED
    * ADAPTIMMUNE - CO TO BE RESPONSIBLE FOR DEVELOPING CLINICAL
CANDIDATES USING ITS IPSC DERIVED ALLOGENEIC PLATFORM TO PRODUCE
T-CELLS
    * ADAPTIMMUNE - COLLABORATION COVERS RESEARCH & DEVELOPMENT
OF
“OFF-THE-SHELF” CELL THERAPIES FOR UP TO 5 SHARED CANCER TARGETS
    * ADAPTIMMUNE - MAY BE ELIGIBLE TO RECEIVE MILESTONES
PAYMENTS
POTENTIALLY EXCEEDING $3 BILLION IN AGGREGATE VALUE
    * ADAPTIMMUNE - WILL ALSO RECEIVE TIERED ROYALTIES ON NET
SALES IN
MID-SINGLE TO LOW-DOUBLE DIGITS
    * ADAPTIMMUNE - HAS RIGHT TO OPT IN TO A 50/50 U.S.
PROFIT/COST
SHARE ON "OFF-THE-SHELF" PRODUCTS


Further company coverage:  ADAP.O 

 ((Reuters.Briefs@thomsonreuters.com;))