Adaptimmune and TCR2 Agree Merger
Clinical stage biotechs Adaptimmune and TCR2 Therapeutics have agreed to merge, forming what they said would be a “preeminent cell therapy company focused on creating solid tumors” with projected sales of about $27 billion by 2026.
The combined entity — to be owned 75% by Adaptimmune and 25% by TCR2 — will have locations in Cambridge, Massachusetts and Philadelphia, Pennsylvania in the US, and Oxford and Stevenage in the UK. Adrian Rawcliffe, current Adaptimmune CEO, will lead the combined group.
“The combined company will drive forward its pipeline of cell therapies aimed at treating multiple cancers with high unmet medical needs. This includes gaining approval for the first engineered TCR T-cell therapy for a solid tumor — afami-cel for the treatment of synovial sarcoma,” said Rawcliffe. “With our cash runway anticipated to be extended into 2026 and covering multiple clinical catalysts in cancers with significant market potential, the combined company is well placed to develop cell therapies as a mainstream option for people with cancer."
The boards of both companies have unanimously approved the deal, which remains subject to shareholder approval and other closing conditions. The transaction is expected to complete in the second quarter of 2023, after when the company will continue to trade as Adaptimmune, maintaining its listing on the Nasdaq Stock Exchange.
Author: Elaine Burridge, Freelance Journalist
