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Medigene AG (OTCPK:MDGEF) and bluebird bio (BLUE) ink a strategic R&D collaboration and license agreement encompassing T cell receptor (TCR) immunotherapies against four targets.
- Under the terms of the agreement, Medigene will generate and deliver the TCRs using its TCR isolation and characterization platform. Following the collaborative preclinical development, bluebird will take over clinical development and commercialization of the TCR candidates and will receive an exclusive license for the relevant intellectual property.
- Medigene will receive an upfront payment of $15M, up to $1B in milestones for the four candidates across several indications, R&D funding and up to double-digit tiered royalties on net sales.
- Medigene will host a conference call at 9:00 am ET to discuss the deal.