Adaptimmune rises as partner takes up option on NY-ESO T-cell therapy
UK headquartered biotech firm Adaptimmune Therapeutics’ (Nasdaq: ADAP) shares were up 11.57% at $7.52 mid-morning today on the news that GlaxoSmithKline (LSE: GSK) has exercised its option to exclusively research, develop and commercialize its NY-ESO SPEAR T-cell therapy. GSK edged up 0.35% to £15.11.
On the exercise of this option and transition of the program, UK pharma major GSK will assume responsibility for all development, manufacturing and commercialization activities for the asset.
Adaptimmune and GSK announced a strategic collaboration and licensing agreement in June 2014 for up to five programs, including the lead NY-ESO TCR program (GSK3377794). In 2015, GSK divested its oncology assets in a swap with Novartis, but said it would continue R&D activity in the oncology arena though not necessarily commercialize resultant products.
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