Adaptimmune Therapeutics in Licensing Deal With Genentech
September 07 2021 - 8:16AM
Dow Jones News
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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