Immunocore, MedImmune in cancer immunotherapy deal

Immunocore Ltd. (Abingdon, U.K.) partnered with the MedImmune LLC biologics unit of AstraZeneca plc (LSE:AZN; NYSE:AZN) to use Immunocure's ImmTAC technology to discover and develop ImmTACs against multiple undisclosed targets selected by MedImmune for cancer. ImmTACs are bispecific molecules consisting of a soluble monoclonal T cell receptor (mTCR) fused to an anti-CD3 antibody fragment that recruits T cells. Immunocore will receive $20 million up front per target program and is eligible for up to $300 million in milestones per program, plus tiered royalties. Immunocore will deliver preclinical candidates to MedImmune, after which MedImmune will be responsible for further development and commercialization. ...