Adaptimmune Announces Entry into Definitive Agreement for Sale of TECELRA, lete-cel, afami-cel and uza-cel Cell Therapies to US WorldMeds
Adaptimmune (NASDAQ:ADAP) has entered into a definitive agreement to sell its cell therapy portfolio, including TECELRA, lete-cel, afami-cel, and uza-cel, to US WorldMeds for $55 million in cash upfront plus up to $30 million in potential milestone payments.
The transaction includes the transfer of intellectual property rights and US employees involved in development and commercialization. Adaptimmune will retain rights to its preclinical assets, including PRAME, CD70, and its allogeneic program. The company plans to restructure post-transaction to support the transition and maximize value from remaining assets.
US WorldMeds commits to continuing TECELRA's availability to patients and plans to bring lete-cel to market, with approval anticipated in 2026. The deal is expected to close by the end of the week.
Adaptimmune (NASDAQ:ADAP) ha firmato un accordo definitivo per vendere il suo portafoglio di terapie cellulari, che include TECELRA, lete-cel, afami-cel e uza-cel, a US WorldMeds per un corrispettivo iniziale in contanti di 55 milioni di dollari più fino a 30 milioni di dollari in pagamenti potenziali legati a milestone.
La transazione prevede il trasferimento dei diritti di proprietà intellettuale e dei dipendenti statunitensi coinvolti nello sviluppo e nella commercializzazione. Adaptimmune manterrà i diritti sui suoi asset preclinici, tra cui PRAME, CD70 e il programma allogenico. L'azienda prevede di ristrutturarsi dopo la transazione per supportare la transizione e massimizzare il valore degli asset rimanenti.
US WorldMeds si impegna a garantire la disponibilità di TECELRA ai pazienti e intende portare sul mercato lete-cel, con l'approvazione prevista per il 2026. L'accordo dovrebbe concludersi entro la fine della settimana.
Adaptimmune (NASDAQ:ADAP) ha firmado un acuerdo definitivo para vender su cartera de terapias celulares, que incluye TECELRA, lete-cel, afami-cel y uza-cel, a US WorldMeds por 55 millones de dólares en efectivo iniciales más hasta 30 millones de dólares en posibles pagos por hitos.
La transacción incluye la transferencia de derechos de propiedad intelectual y empleados en EE.UU. involucrados en el desarrollo y comercialización. Adaptimmune conservará los derechos sobre sus activos preclínicos, incluyendo PRAME, CD70 y su programa alogénico. La compañía planea reestructurarse tras la transacción para apoyar la transición y maximizar el valor de los activos restantes.
US WorldMeds se compromete a mantener la disponibilidad de TECELRA para los pacientes y planea lanzar lete-cel al mercado, con aprobación prevista para 2026. Se espera que el acuerdo se cierre a finales de la semana.
Adaptimmune (NASDAQ:ADAP)는 TECELRA, lete-cel, afami-cel, uza-cel을 포함한 세포 치료제 포트폴리오를 US WorldMeds에 현금 5,500만 달러 선불과 최대 3,000만 달러의 잠재적 마일스톤 지급 조건으로 판매하는 최종 계약을 체결했습니다.
이번 거래에는 지적 재산권과 개발 및 상업화에 참여한 미국 직원들의 이전이 포함됩니다. Adaptimmune는 PRAME, CD70, 그리고 동종 세포 프로그램을 포함한 전임상 자산에 대한 권리를 유지할 예정입니다. 회사는 거래 후 전환을 지원하고 남은 자산의 가치를 극대화하기 위해 구조조정을 계획하고 있습니다.
US WorldMeds는 TECELRA의 환자 제공을 계속 유지할 것을 약속하며, lete-cel을 2026년 승인 목표로 시장에 출시할 계획입니다. 이번 거래는 이번 주 말까지 완료될 것으로 예상됩니다.
Adaptimmune (NASDAQ:ADAP) a conclu un accord définitif pour vendre son portefeuille de thérapies cellulaires, incluant TECELRA, lete-cel, afami-cel et uza-cel, à US WorldMeds pour 55 millions de dollars en espèces à l'avance, plus jusqu'à 30 millions de dollars en paiements potentiels liés à des jalons.
La transaction comprend le transfert des droits de propriété intellectuelle ainsi que des employés américains impliqués dans le développement et la commercialisation. Adaptimmune conservera les droits sur ses actifs précliniques, notamment PRAME, CD70 et son programme allogénique. La société prévoit une restructuration après la transaction afin de soutenir la transition et maximiser la valeur des actifs restants.
US WorldMeds s’engage à maintenir la disponibilité de TECELRA pour les patients et prévoit de commercialiser lete-cel, avec une approbation attendue en 2026. La clôture de l’accord est prévue d’ici la fin de la semaine.
Adaptimmune (NASDAQ:ADAP) hat eine endgültige Vereinbarung zum Verkauf seines Zelltherapie-Portfolios, einschließlich TECELRA, lete-cel, afami-cel und uza-cel, an US WorldMeds getroffen. Der Kaufpreis beträgt 55 Millionen US-Dollar in bar zuzüglich bis zu 30 Millionen US-Dollar an potenziellen Meilensteinzahlungen.
Die Transaktion umfasst die Übertragung von geistigen Eigentumsrechten sowie US-Mitarbeitern, die an Entwicklung und Vermarktung beteiligt sind. Adaptimmune behält die Rechte an seinen präklinischen Vermögenswerten, darunter PRAME, CD70 und das allogene Programm. Das Unternehmen plant eine Umstrukturierung nach der Transaktion, um den Übergang zu unterstützen und den Wert der verbleibenden Vermögenswerte zu maximieren.
US WorldMeds verpflichtet sich, die Verfügbarkeit von TECELRA für Patienten weiterhin sicherzustellen und plant, lete-cel bis 2026 auf den Markt zu bringen. Der Abschluss der Vereinbarung wird bis Ende der Woche erwartet.
- Immediate cash injection of $55 million to strengthen financial position
- Additional potential milestone payments of up to $30 million
- Retention of valuable preclinical assets including PRAME, CD70, and allogeneic program
- Ensures continued availability of TECELRA to patients through US WorldMeds
- Sale of core commercial and late-stage assets indicates financial distress
- Loss of revenue-generating TECELRA and near-term potential revenue from lete-cel
- Significant restructuring required, likely involving workforce reductions
- Company forced to divest assets due to financial constraints
Insights
Adaptimmune sells core cell therapies to US WorldMeds for $55M upfront amid financial constraints, retaining preclinical assets and restructuring operations.
Adaptimmune's $55 million sale of its cell therapy portfolio to US WorldMeds represents a strategic pivot necessitated by financial constraints. The transaction includes TECELRA (the first FDA-approved engineered TCR T-cell therapy), lete-cel (with anticipated approval in 2026), and two other cell therapies (afami-cel and uza-cel). The deal structure provides immediate capital plus up to $30 million in milestone-based payments.
This transaction appears driven by financial necessity rather than strategic optimization. CEO Adrian Rawcliffe's statement that "given the financial situation of the Company, it is clear that securing the right strategic option was critical" suggests Adaptimmune faced significant capital constraints that limited its ability to commercialize these assets independently.
The deal preserves patient access to TECELRA while transferring commercialization responsibilities to US WorldMeds, which has secured debt financing from Oaktree Capital Management and Athyrium Capital Management to fund the acquisition. For Adaptimmune, retaining the intellectual property licensing arrangement creates an ongoing revenue stream while significantly reducing operational costs through the planned restructuring.
Importantly, Adaptimmune retains rights to its preclinical assets, including promising PRAME and CD70 directed T-cell therapies and its allogeneic program. This suggests a strategic refocusing on earlier-stage programs while monetizing later-stage assets to extend the company's runway. The comprehensive review of strategic alternatives conducted by the board indicates this transaction represented the best available option for maximizing stakeholder value under current circumstances.
The planned restructuring will likely result in significant workforce reductions beyond those employees transferring to US WorldMeds, though specific headcount changes aren't detailed. This transaction fundamentally transforms Adaptimmune from a commercial-stage company back to a development-stage organization with a narrower pipeline focus.
Tecelra will continue to be available to patients without interruption
US WorldMeds plans to bring lete-cel to market and will continue development of uza-cel in collaboration with Galapagos
Purchase price is
Adaptimmune will retain rights to its preclinical assets including PRAME, CD70, and its allogeneic program
Adaptimmune will restructure to support the transition of these therapies to US WorldMeds and to maximize value from its remaining assets
Adaptimmune's Board of Directors determined this transaction is in the best interest of all stakeholders following a comprehensive review of all strategic alternatives
Philadelphia, Pennsylvania and Oxford, United Kingdom--(Newsfile Corp. - July 28, 2025) - Adaptimmune Therapeutics plc (NASDAQ: ADAP), a company redefining the treatment of solid tumor cancers with cell therapy, today announced its entry into a definitive agreement for the sale of TECELRA, lete-cel, afami-cel, and uza-cel cell therapies to US WorldMeds. Consummation of the sale is expected to occur before the end of the week.
Adrian Rawcliffe, Adaptimmune's Chief Executive Officer: "Adaptimmune has been at the forefront of solid tumor cell therapy and delivering groundbreaking treatments to patients for more than a decade. We were the first company to obtain a marketing authorization for an engineered TCR T-cell therapy, TECELRA, and we have a second cell therapy, lete-cel, with approval anticipated in 2026. However, given the financial situation of the Company, it is clear that securing the right strategic option was critical to maximize value for all of our stakeholders and importantly ensure our patients continue to receive TECELRA. After an extensive review of all strategic alternatives available to Adaptimmune we are convinced that this transaction represents the best path forward for Adaptimmune, our patients and stakeholders."
Breck Jones, US WorldMeds Chief Executive Officer: "Anchored by a first-in-class commercial therapy and a promising pipeline, this acquisition is a meaningful step forward in our mission to bring hope and innovation to patients who need it most. US WorldMeds deeply respects the strong foundation Adaptimmune has built in the cell therapy space and is committed to carrying that work forward - advancing and delivering these important therapies to the people and families who are counting on them."
Under the terms of the asset purchase agreement, US WorldMeds will purchase the TECELRA, uza-cel, afami-cel and lete-cel cell therapy assets of Adaptimmune (the "Assigned Assets") and all intellectual property rights exclusively relating to such Assigned Assets. In return, Adaptimmune will receive
US employees involved in the development and commercialization of the Assigned Assets will be offered employment with US WorldMeds to ensure the ongoing success and ability to supply those Assigned Assets. Following the transaction Adaptimmune intends to restructure to support the continued development by US WorldMeds of lete-cel, TECELRA and uza-cel and to maximise value from its remaining assets including its PRAME and CD70 directed T-cell therapies.
TD Cowen acted as financial advisor, and Ropes & Gray LLP provided legal counsel, to Adaptimmune.
Gibson, Dunn & Crutcher LLP provided legal counsel to US WorldMeds.
The transaction will be financed by debt financing led by funds managed by Oaktree Capital Management, L.P. (“Oaktree”), with participation from funds managed by Athyrium Capital Management, LP (“Athyrium”).
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual events or results may differ materially from these forward-looking statements. Words such as "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "project," "potential," "continue," "future," "opportunity" "will likely result," "target," variations of such words, and similar expressions or negatives of these words are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Examples of such forward-looking statements include, but are not limited to, express or implied statements regarding: the proposed transaction and related matters; the impact of the proposed transaction on Adaptimmune's share price; the anticipated benefits of the proposed transaction for Adaptimmune's financial results and business performance; Adaptimmune's targets, plans, objectives or goals for future operations, including those related to Adaptimmune's products or product candidates, research and development, product candidate introductions and product candidate approvals as well as cooperation in relation thereto; projections of or targets for revenues, costs, income (or loss), earnings per share, capital expenditures, dividends, capital structure, net financials and other financial measures; future economic performance, future actions and outcome of contingencies such as legal proceedings; the assumptions underlying or relating to such statements; and other risks and uncertainties contained in Adaptimmune's filings with the U.S. Securities and Exchange Commission (the "SEC"), including Adaptimmune's most recently filed Annual Report on Form 10-K and 10-Q. These forward-looking statements speak only as of the date of this release, and Adaptimmune undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.
About Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments, with
About Athyrium
Athyrium is a specialized asset management company formed in 2008 to focus on investment opportunities in the global healthcare sector. Athyrium advises funds with over
Investor Relations and Media Relations
Adrian Rawcliffe - Chief Executive Officer
Adrian.Rawcliffe@adaptimmune.com
Patient Advocacy and Medical Affairs
Laura Gunn - Vice President, Global Medical Affairs
Laura.Gunn@adaptimmune.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260248
FAQ
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