Immunocore in multi-million deal with GlaxoSmithKline on ImmTACs

9 July 2013

Oxford, UK-based biotech firm Immunocore, focused on developing novel biological drugs called ImmTACs to treat cancer and viral disease, has entered into a partnership with pharma giant GlaxoSmithKline (LSE: GSK) for multiple novel targets not addressable using antibody-based technologies.

Under the terms of the agreement, Immunocore will receive up to a total of £142 million ($211.3 million) in preclinical milestone payments across the targets. In addition, for each product that reaches the market, up to £200 million is due to Immunocore in development and commercial milestone payments, plus up to double digit royalties.

Immunocore will be responsible for all of the preclinical development and for the initial clinical trials in patients and GSK will be responsible for the remaining development and commercialisation of the products.

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