FRANKFURT (Reuters) – Medigene, the German biotech company, has chosen a technology that strengthens the immune response to cancer and has raised potential milestone payments to US $ 1.5 billion through a partnership with the US company Bluebird Bio. Dollars raised.
The number of projects in the alliance Medigene brings in screening tools to identify promising T cell receptors (TCRs) will increase from four to six, Medigene said Monday.
"If Medigene is successfully developed and marketed across multiple indications and markets, it could receive up to $ 250 million in milestone payments per TCR program, in addition to tiered royalties on double digit percentage net royalties," said Medigene.
In September 201
The extended cooperation agreement validates Medigene's technology platform, affirmed Baader Helvea analysts' buy recommendation.
Bluebird is best known for its advancement in a class of customized cancer drugs known as chimeric antigen receptor T cells or CAR-Ts.
Other companies working on T cell receptor (TCR) technologies include GlaxoSmithKline, UK's Immunocore, which is supported by the Bill & Melinda Gates Foundation or the US biotech group ImmunoCellular.
Under the terms of the extended agreement, Medigene will receive an additional one-time payment of $ 8 million plus increased funding for research and development.
Reporting by Ludwig Burger; Arrangement by John Stonestreet and Maria Sheahan