TScan jumps 102% after deal with Amgen for Crohn’s disease

TScan Therapeutics (NASDAQ:TCRX) added ~102% in the morning hours Tuesday in reaction to a multi-year partnership with Amgen (AMGN) to identify therapeutic targets for the gastrointestinal disorder Crohn's disease.
Per the terms, Amgen (AMGN) will keep all global development and commercial rights for T cell antigens discovered by TScan (TCRX) using its target discovery platform, TargetScan. The pharma giant will also receive an option to expand the deal to ulcerative colitis under certain conditions.
In return, TScan (TCRX) will receive $30M upfront in addition to preclinical, clinical, regulatory, and commercial milestones worth over $500M and tiered single-digit royalties.
"TScan's platform provides a best-in-class approach to identify non-conventional drug targets to enable the development of potential first-in-class therapeutics to address unmet medical needs," Raymond Deshaies, AMGN's senior vice president of Global Research, said.

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