GlaxoSmithKline (GSK) and Immatics Biotechnologies, a Germany-based clinical-stage biopharmaceutical company focused on the discovery and development of T-cell redirecting cancer immunotherapies, announced on Feb. 20, 2020 that they have entered into a strategic collaboration agreement to develop novel adoptive cell therapies targeting multiple cancer indications for over $550 million.

Through the agreement, Immatics will receive an upfront payment of $45 million for two preliminary programs and is qualified to receive $550 million in development, regulatory, and commercial milestone payments for each product and additional royalty payments, according to an Immatics press release. GSK will have the option to choose further target programs to include in the partnership, and Immatics is authorized to receive option, milestone, and royalty payments for each added program.

The companies will work to identify, research, and develop next-generation T-cell receptor (TCR) therapeutics with a focus on solid tumors. Immatics will oversee the development and validation of the TCR therapeutics up to the designation of a clinical candidate, and GSK will be responsible for further worldwide development, manufacturing, and commercialization of the therapies. Upon GSK’s request, Immatics will co-develop one or more TCR therapeutics, including the conduct of the first-in-human clinical trial.

“We are delighted to enter into this strategic collaboration with GSK—a partner who is already committed to adoptive cell therapies and TCR-T approaches,” said Harpreet Singh, CEO of Immatics, in the press release. “By combining Immatics’ world-leading target and TCR discovery platforms with GSK’s advanced manufacturing, development capabilities, and a commitment to next-generation TCR-T technologies, both companies are joining forces to enable the development of effective novel therapies for cancer patients with high unmet medical need.”