Glaxo (GSK) and privately-held U.K. firm Adaptimmune collaborate on developing cell-based cancer therapies in a deal worth as much as $350M. The partnership focuses on Adaptimmune's lead clinical program which is showing promising results in multiple myeloma, melanoma, sarcoma and ovarian cancer. The therapies work by re-engineering the patient's own t-cells to target and destroy cancer cells.
Glaxo could pay over $350M over seven years if certain milestones are met. Adaptimmune will earn single-to-double digit royalties on commercial sales.