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Adaptimmune Therapeutics plc (NASDAQ: ADAP) has announced a collaboration and license agreement with Genentech, a unit of Roche Holdings AG (OTC: RHHBY), to develop and commercialize allogeneic cell therapies for oncology indications.
The collaboration includes developing allogeneic T-cell therapies for up to five shared cancer targets and personalized allogeneic T-cell therapies.
Adaptimmune will be responsible for developing candidates using its induced pluripotent stem cell (iPSC) derived allogeneic platform to produce T-cells (iT cells).
Genentech will be responsible for the input TCRs and subsequent clinical development and commercialization.
Under the terms of the agreement, Adaptimmune will receive an upfront payment of $150 million and additional payments of $150 million over five years.
In addition, Adaptimmune may be eligible to receive research, development, regulatory, and commercial milestones payments potentially exceeding $3 billion in aggregate value.
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.
Price Action: ADAP shares are up 27.1% at $6.28 during the premarket session on the last check Tuesday.
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