Immunocore Announces Another Multimillion Pound Partnership with GlaxoSmithKline
Source: Isis Innovation
9 July 2013
Immunocore Limited, the Oxford-based biotechnology company developing novel biological drugs called ImmTACs to treat cancer and viral disease, today announced it has entered into a partnership with GlaxoSmithKline (GSK) for multiple novel targets not addressable using antibody-based technologies. This is Immunocore’s second major partnership this year.
Under the terms of the agreement, Immunocore will receive up to a total of £142 million in preclinical milestone payments across the targets. In addition, for each product that reaches the market, up to £200 million is due to Immunocore in development and commercial milestone payments, plus up to double digit royalties. Immunocore will be responsible for all of the pre-clinical development and for the initial clinical trials in patients and GSK will be responsible for the remaining development and commercialisation of the products.
Founded in 2008, Immunocore Ltd is a privately owned, clinical-stage, biotechnology company developing a highly innovative platform technology that generates ImmTACs, novel drugs called for the treatment of cancer and viral infection. Immunocore traces its roots to Avidex Ltd, founded in 1999 as a spin-out from the University of Oxford to develop novel T Cell Receptor technology invented by the founder and chief scientist, Dr Bent Jakobsen.