Brief: Adaptimmune Enters Into Strategic Collaboration With Genentech To Research, Develop, And Commercialize Cancer-Targeted Allogeneic T-Cell Therapies

Adaptimmune Therapeutics

07/09/2021 12:19

Sept 7 (Reuters) - Adaptimmune Therapeutics PLC  ADAP.O :
    * ADAPTIMMUNE ENTERS INTO A STRATEGIC COLLABORATION WITH
GENENTECH
TO RESEARCH, DEVELOP, AND COMMERCIALIZE CANCER-TARGETED
ALLOGENEIC T-CELL THERAPIES
    * ADAPTIMMUNE THERAPEUTICS PLC - WILL RECEIVE AN UPFRONT
PAYMENT
OF $150 MILLION AND ADDITIONAL PAYMENTS OF $150 MILLION OVER
FIVE YEARS
    * ADAPTIMMUNE THERAPEUTICS PLC - MAY BE ELIGIBLE TO RECEIVE
MILESTONES PAYMENTS POTENTIALLY EXCEEDING $3 BILLION IN
AGGREGATE VALUE
    * ADAPTIMMUNE THERAPEUTICS PLC - WILL ALSO RECEIVE TIERED
ROYALTIES ON NET SALES IN MID-SINGLE TO LOW-DOUBLE DIGITS.
    * ADAPTIMMUNE THERAPEUTICS PLC - HAS RIGHT TO OPT IN TO A
50/50
U.S. PROFIT/COST SHARE ON "OFF--SHELF" PRODUCTS

Source text for Eikon:  ID:nGNXd84rY 
Further company coverage:  ADAP.O 

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