Adaptimmune Therapeutics plc announced its entry into a definitive agreement for the sale of its TECELRA, lete-cel, afami-cel, and uza-cel cell therapies to US WorldMeds. Under the terms of the asset purchase agreement, Adaptimmune will receive $55 million in cash upon consummation of the sale, with potential for up to $30 million in future milestone payments. The transaction is expected to be consummated before the end of the week.
Following the transaction, Adaptimmune intends to restructure to support the continued development of these therapies by US WorldMeds and to maximize value from its remaining assets, including its PRAME and CD70 directed T-cell therapies. The company's Board of Directors determined this transaction to be in the best interest of all stakeholders after an extensive review of strategic alternatives.
This divestiture addresses the company's financial situation, which previously included a disclosure of substantial doubt about its ability to continue as a going concern. The sale ensures continued patient access to TECELRA and places lete-cel's development and planned 2026 launch in the hands of US WorldMeds, which will utilize the same commercial footprint and ATC network.
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