Fate Therapeutics (NASDAQ:FATE) inks a global collaboration and option agreement with Johnson & Johnson (NYSE:JNJ) unit Janssen Biotech aimed at developing cell therapies for cancer.
The partnership will leverage the company’s
induced pluripotent stem cell (iPSC) platform with Janssen’s proprietary
antigen-binding domains in up to four tumor-associated antigen targets
that will be used to create novel CAR NK (natural killer) and CAR T-cell
product candidates.
Fate will advance the candidates through the IND
stage after which Janssen will have the option to exclusively license
development and commercialization rights. Fate will be largely
responsible for manufacturing which will be funded by Janssen.
Under the terms of the deal, Fate will receive
$50M upfront, up to $1.8B in development and regulatory milestones, up
to $1.2B in commercial milestones and double-digit royalties on net
sales. It also has the right to co-commercialize each candidate in the
U.S. and equally share in profits and losses. And finally, Janssen will
invest $50M in Fate common stock at $31 per share (today’s close was
$21.07).
https://seekingalpha.com/news/3558035-fate-therapeutics-up-23-after-hours-on-j-and-j-cell-therapy-deal
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