Medigene AG (Xetra:MDG1) and bluebird bio Inc. (NASDAQ:BLUE) are adding two new targets and additional milestones to a 2016 deal to research and develop T cell receptor immunotherapies to treat cancer. Medigene rose €1.35 to €15.60 on Monday.
Medigene will receive an additional $8 million up front and is eligible for $250 million in milestones for each target, plus double-digit royalties.
bluebird and Medigene first partnered in September 2016 to develop TCR immunotherapies against four undisclosed targets. Medigene received $15 million up front and was eligible for more than $1 billion in milestones, plus tiered royalties (see BioCentury Extra, Sept. 29, 2016).
Monday's deal expands the number of target antigen/major histocompatibility complex (MHC) restriction combinations the partners will investigate from four to six. Medigene will also receive another $1 million associated with the first collaboration project under the 2016 deal.
Medigene remains responsible for identifying TCRs. bluebird will be responsible for preclinical and clinical development and commercialization, and will have exclusive rights to candidates.
Medigene is also developing TCR therapies outside of the bluebird deal. In March, the immuno-oncology company began a Phase I/II trial of its TCR therapy MDG1011 to treat blood cancers.
bluebird was down $5.50 to $180.90 on Monday.