Bluebird bio dives deeper into its TCR alliance with Medigene, adding $500M in milestones and 2 new targets
Whatever bluebird bio $BLUE learned about Medigene’s TCR immunotherapy tech since it signed up for its initial billion-dollar discovery pact must have been impressive. The Cambridge, MA-based biotech has jumped back in for a new exploration of the intracellular targets that TCR can hit, adding two more projects to the package with another $500 million in milestones on the table.
As with most such preclinical alignments, the work starts with a small upfront and then grows with the potential — or not. Germany’s Medigene {$MDGEF; ETR: $MDG1} gets $8 million to start off the expanded deal, R&D support to grow its organization and a $1 million bonus early on. And its stock jumped 9% on the news Monday.
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