Facing ongoing financial pressures, Adaptimmune Therapeutics has agreed to sell three cell therapy assets, including its FDA-approved sarcoma therapy Tecelra, to US WorldMeds for $55 million in upfront cash. The news sent Adaptimmune’s stock down 65% this morning.
The deal, disclosed in an SEC filing today, transfers rights to Tecelra—the first engineered cell therapy for a solid tumor—along with pipeline candidates lete-cel, afami-cel, and uza-cel, plus intellectual property and other assets. Adaptimmune could also receive up to $30 million in milestone payments. CEO Adrian Rawcliffe stated the sale was “critical to maximize value” and “ensure our patients continue to receive Tecelra.” Part of the upfront cash will repay debt.
US WorldMeds CEO Breck Jones expressed excitement for the acquisition, noting it’s a “meaningful step forward” to bring innovation to patients.
As a result of the deal, Adaptimmune will drastically restructure its workforce, reducing its remaining employees by 62%, with most layoffs by Q3 2025. US WorldMeds plans to offer jobs to about half of Adaptimmune’s current staff. This follows previous workforce reductions and financial concerns voiced by Adaptimmune in recent months, including a prior 29% layoff and the termination of a partnership with Genentech. Several top Adaptimmune executives will also be departing in August. Despite Tecelra’s FDA approval, Adaptimmune faced challenges with its commercial launch and ongoing financial viability.
Source:
https://www.fiercebiotech.com/biotech/adaptimmune-sells-4-cell-therapies-pharma-55m-plans-layoffs
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