Adaptimmune Therapeutics, a company developing cell therapies to treat cancer, has entered into a strategic collaboration and license agreement with Genentech to develop and commercialise allogeneic cell therapies to treat multiple oncology indications.
The collaboration has two components: development of allogeneic T-cell therapies for up to five shared cancer targets; and development of personalised allogeneic T-cell therapies.
For each component, Adaptimmune will be responsible for developing clinical 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, unless the agreement is earlier terminated.
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.
If Adaptimmune elects to opt in, then Adaptimmune 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.
