Eli Lilly and Company have entered into a biotech deal for co-development collaboration to research and potentially develop novel T cell-based cancer therapies.
Using Immunocore's Immune Mobilising Monoclonal T-Cell Receptor Against Cancer (ImmTAC) technology, the companies will seek to use the power of the body's own immune system to attack cancer cells.
ImmTACs have shown potential to direct a patient's T cells to specifically target the cancerous cells, avoiding damage to healthy cells.
Immunocore will receive an upfront fee of $15 million per program for the discovery of novel ImmTACs against jointly-selected cancer targets in order to generate preclinical candidate packages.
If Lilly accepts a preclinical candidate package to develop and potentially commercialize, Immunocore will receive an opt-in fee of $10 million and will have an option to continue co-development with Lilly on a cost-sharing and profit-sharing basis.
If Immunocore does not exercise its option, it will be entitled to potential future significant milestone and royalty payments.
For further deal information visit Current Agreements (subscription required)
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