By Chris Wack

 

Adaptimmune Therapeutics Plc has entered into a strategic collaboration and license agreement with Genentech, a member of Roche Group, to develop and commercialize allogeneic cell therapies to treat multiple oncology indications.

The company said the collaboration has two components, development of allogeneic T-cell therapies for up to five shared cancer targets, and development of personalized allogeneic T-cell therapies.

For each component, Adaptimmune will be responsible for developing clinical candidates using its induced pluripotent stem cell derived allogeneic platform to produce T-cells. Genentech will be responsible for the input TCRs and subsequent clinical development and commercialization.

Adaptimmune will receive an upfront payment of $150 million and additional payments of $150 million over five years, unless the agreement is terminated earlier. Adaptimmune may also be eligible to receive research, development, regulatory and commercial milestones payments potentially exceeding $3 billion.

Adaptimmune will also receive tiered royalties on net sales in the mid-single to low-double digits.

Adaptimmune has the right to opt in to a 50/50 U.S. profit/cost share on "off-the-shelf" products. If Adaptimmune elects to opt in, it will be eligible to share 50 percent of profits and losses from U.S. sales on such products and is eligible to receive ex-U.S. regulatory and sales-based milestone payments, as well as royalties on ex-U.S. net sales.

Adaptimmune shares were up 22% to $6 in premarket trading.

 

Write to Chris Wack at chris.wack@wsj.com

 

(END) Dow Jones Newswires

September 07, 2021 08:01 ET (12:01 GMT)

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