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ADAP - Why Adaptimmune Therapeutics Is Jumping 11.5% Today
Adaptimmune Therapeutics plc
After the company announced that Japanese biopharma Astellas(OTC: ALPMY) is licensing its technology, shares in Adaptimmune Therapeutics(NASDAQ: ADAP) are rallying 11.4% at 1:45 EST on Tuesday.
Astellas will work with Adaptimmune to develop T-cell receptors (TCRs), chimeric antigen receptors (CARs), and HLA-independent TCRs derived from stem cells that can be used as off-the-shelf cancer treatments.
In exchange, Adaptimmune gets a much-needed $50 million in upfront money, up to $7.5 million annually in research funding, plus potential milestones and royalties on products developed through the collaboration.