Fierce Biotech May 31, 2024
Adaptimmune was facing a financing cliff until Galapagos walked in with a sprawling licensing deal for a next-generation T-cell therapy that could total $665 million in biobucks.
The multi-pronged deal, announced after market close Thursday, involves uza-cel, a MAGE-A4 TCR T-cell therapy that Adaptimmune is developing for ovarian cancer. Galapagos, however, wants to take the therapy into head and neck cancer and potentially additional solid tumors down the line.
To do so, the Belgian biotech is offering $100 million upfront, split between a $70 million upfront payment and $30 million in R&D funding, plus option exercise fees worth up to $100 million, milestone payments of up to $465 million, and eventual royalties on net sales, according to a Thursday press...
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