Adaptimmune Therapeutics PLC (NASDAQ: ADAP) Up By 200% After Announcing Partnership Agreement With Astellas

Adaptimmune Therapeutics Plc (NASDAQ: ADAP) was one of the top gainers in yesterday’s trading session, and closed with gains of 200%. This came after the company announced that, it had entered into an agreement with Astellas for the development and commercialization of allogeneic CAR-T, and TCR T-Cell therapies that are derived from stem cells.

The two companies will agree on up to 3 targets and develop T-Cell therapy candidates together. Under the agreement, the targets will not include specific T-Cell products that are in clinical and pre-clinical trials. It will also exclude programs that are developed by other Adaptimmune partners.

 The two companies further agreed that, they will leverage on Adaptimmune’s target identification and validation capabilities in the generation of target-specific T-Cell Receptors (TCRs), HLA-Independent TCRs, and Chimeric Antigen Receptors (CARs). The collaboration between the two will also make use of the Universal Donor Cell and Gene Editing platforms provided by Astellas.

Collaboration between these two companies started way back in 2015 in the development of gene-edited iPSC cell lines. In this collaboration, Adaptimmune got the rights to develop and sell the T-Cell products that came out of the process.

In the current collaboration, Astellas will provide funding, that will run until the end of phase 1 for all the treatment candidates involved.  On top of that, the two companies will decide whether to co-develop and commercialize the products, or allow each of them to do it on their own through a royalty agreement.  On top of that, the two companies will have a co-exclusive license for the development of product candidates in T-Cell therapy.

Commenting on the development, Astellas Representative Director Corporate Executive Vice President, Naoki Okamura stated that, immune-oncology was one of the company’s key strategic areas of focus. He added that, T-Cells are key components of cell therapy for immune-oncology, and that they were looking to work together with Adaptimmune in creating stem cell-based therapies.

On her part, Adaptimmune Chief Business Officer, Helen Tayton-Martin stated that, they were happy to enter into a partnership with Astellas, and that it will extend an existing collaboration touching on gene editing of IPSC cells.

Looking at its price action, the stock opened with a gap up and traded between a low of $2.10 and a high of $5.84, before closing the day at $3.99. Volumes in the day stood at 56.07 million.  

About Adaptimmune Therapeutics Plc

Adaptimmune Therapeutics Plc is a biopharma company that focuses on cell therapies for solid tumors.  It is based on Abingdon, U.K.