AMGN - TScan jumps 102% after deal with Amgen for Crohn's disease
2023-05-09 10:09:59 ET
- TScan Therapeutics ( NASDAQ: TCRX ) added ~102% in the morning hours on Monday in reaction to a multi-year partnership with Amgen ( AMGN ) to identify therapeutic targets in the gastrointestinal disorder Crohn's disease.
- Per the terms, Amgen ( AMGN ) will keep all global development and commercial rights for T cell antigens discovered by TScan ( TCRX ) using its target discovery platform, TargetScan. The pharma giant will also receive an option to expand the deal to ulcerative colitis under certain conditions.
- In return, TScan ( TCRX ) will receive $30M upfront in addition to preclinical, clinical, regulatory, and commercial milestones worth over $500M and tiered single-digit royalties.
- "TScan's platform provides a best-in-class approach to identify non-conventional drug targets to enable the development of potential first-in-class therapeutics to address unmet medical needs," Raymond Deshaies, AMGN's senior vice president of Global Research, said.
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TScan jumps 102% after deal with Amgen for Crohn’s disease