Anticipating T-cell therapy approval, Adaptimmune secures $125M to fund launch
Cell TherapyPhase 2ImmunotherapyLicense out/in
Adaptimmune Therapeutics finalised a debt financing with Hercules Capital on Wednesday worth up to $125 million to prepare for the potential launch of afami-cel, its experimental synovial sarcoma treatment. The engineered, autologous T-cell therapy against MAGE-A4 is currently under priority review at the FDA, with a decision expected by August 4.
The first $25-million tranche will be immediately available to the biotech after the five-year loan agreement closes. Adaptimmune can draw a second $25-million portion after the approval of afami-cel approval, and is eligible to receive an additional $75 million across three tranches, dependent on undisclosed conditions.
According to Adaptimmune, the financing will also aid the launch of its second candidate, lete-cel, which is expected in 2026.
The NY-ESO-targeting cell therapy is in the Phase II IGNYTE-ESO trial in patients with synovial sarcoma and myxoid/round cell liposarcoma (MRCLS).
The financing comes a month after Roche’s Genentech unit ended a 2021 deal with Adaptimmune to develop T-cell therapies for cancer. While the biotech had cashed in $185 million from the tie-up, the amount was a far cry from the $3 billion it was eligible to receive.
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