GSK Transfers Cell Therapy Program Rights To Adaptimmune, Terminates Second Cell Therapy Pact In A Day - GSK (NYSE:GSK)

GSK plc GSK will transfer its NY-ESO cell therapy program and the right to the PRAME cell therapy program to Adaptimmune Therapeutics plc ADAP.
As part of the transfer of the assets and pending negotiation of the transfer terms, it is anticipated that the collaboration and license agreement will terminate, and GSK will cease to have any rights to nominate any additional targets.
The terms of the transfer are being negotiated.
Adaptimmune gains full control of late-stage preclinical optimized PRAME TCR; IND-ready in 2023.
GSK to deliver data from the ongoing Phase 2 / potential registrational trial with lete-cel in sarcoma, with final readouts expected in late 2023.
Related: GSK Walks Away From T-Cell Therapy Pact With Lyell Citing Strategic Actions.
Adaptimmune and GSK announced their strategic collaboration and license agreement in June 2014 for up to five programs, including the first program, NY-ESO.
In September 2017, GSK exercised its option to exclusively license the right to research, develop, and commercialize Adaptimmune's NY-ESO SPEAR T-cell therapy program, following which two further targets, including PRAME, were nominated as collaboration program targets.
Price Action: ADAP shares are down 1.675 at $1.18 on the last check Tuesday.