logo
  

Astellas, Adaptimmune To Co-Develop And Co-Commercialize T-cell Therapies

Tokyo, Japan-based Astellas Pharma Inc. (ALPMY) announced Tuesday an agreement with Adaptimmune Therapeutics plc (ADAP), which is focused on cell therapy to treat cancer, to develop up to three T-cell therapies.

Under the deal, Astellas unit Universal Cells, Inc, and Adaptimmune will co-develop and co-commercialize new stem-cell derived allogeneic T-cell therapies to people with cancer.

Under the terms, Adaptimmune will receive an upfront payment of $50 million, and may receive up to $897.5 million in payments.

Along with upfront payment, the potential payments for Adaptimmune includes development milestones totaling up to $73.75 million for each product if the collaboration product discovered in this partnership is co-developed and commercialized by both companies. It also includes up to $147.5 million in milestone payments per product and up to $110 million in sales milestones for products developed unilaterally by Astellas.

In addition, Adaptimmune will receive research funding of up to $7.5 million per year. Finally, Adaptimmune would receive tiered royalties on net sales in the mid-single to mid-teen digits.

Under the terms of the agreement, Astellas may receive up to $552.5 million, including up to $147.5 million in milestone payments per product and up to $110 million in sales milestones for products developed unilaterally by Adaptimmune. In addition, Astellas would receive tiered royalties on net sales in the mid-single to mid-teen digits.

Astellas and Adaptimmune will agree on up to three targets and co-develop T-cell therapy candidates directed to those targets. These targets will exclude target specific T-cell products in pre-clinical or clinical trials or those developed for other partners at Adaptimmune.

Astellas will fund research up until completion of a Phase 1 trial for each candidate.

The companies will each have a co-exclusive licence covering the co-development and co-commercialization of the product candidates within the field of T-cell therapy. If a candidate is developed by one company only, the appropriate licences will become exclusive to the continuing party.

On Nasdaq, Adaptimmune shares gained 200 percent on Monday's regular trading to $3.99. In the after hours trading, stock fell 5 percent to $3.80.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
McDonald's says equal pay for women is just the beginning, while conforming that the fast-food giant pays women globally 99.85 cents on the dollar for similar work, taking into account legitimate pay drivers such as level, location, experience, and performance. The company added that it is on track to close that identified gap in 2022. Verizon Communications Inc. (VZ) said, on an adjusted basis, its third-quarter earnings per share rose 12.8 percent from a year ago. The company said its earnings were highlighted by revenue and customer growth as more than one in four Consumer wireless phone customers now have a 5G-capable device. The... While reporting financial results for the third quarter on Wednesday, Abbott Laboratories (ABT) raised its earnings and adjusted earnings guidance for the full-year 2021. For fiscal 2021, the company continues to project earnings from continuing operations in a range of $3.55 to $3.6 per share and...
Follow RTT