Adaptimmune Announces Entry into Definitive Agreement for Sale of TECELRA, lete-cel, afami-cel and uza-cel Cell Therapies to US WorldMeds

Core Viewpoint - Adaptimmune Therapeutics has entered into a definitive agreement to sell its cell therapy assets, including TECELRA, lete-cel, afami-cel, and uza-cel, to US WorldMeds for $55 million in cash, with potential future payments of up to $30 million based on milestone achievements [1][2][5] Group 1: Transaction Details - The sale includes all intellectual property rights related to the Assigned Assets, and Adaptimmune will retain rights to its preclinical assets such as PRAME and CD70 [1][2] - The transaction is expected to be completed before the end of the week, and Adaptimmune will provide transition services to US WorldMeds [1][4] - US WorldMeds plans to continue the development of lete-cel and other therapies, ensuring that patients have uninterrupted access to TECELRA [1][5] Group 2: Strategic Rationale - Adaptimmune's Board of Directors concluded that this transaction is in the best interest of all stakeholders after a comprehensive review of strategic alternatives [1][2] - The CEO of Adaptimmune emphasized the importance of securing the right strategic option to maximize value for stakeholders and ensure continued patient access to TECELRA [2][5] - US WorldMeds' CEO highlighted the acquisition as a significant step in their mission to innovate and provide hope to patients [2][5] Group 3: Financial Aspects - The transaction will be financed through debt led by Oaktree Capital Management and Athyrium Capital Management [6] - Adaptimmune will receive an initial payment of $55 million upon sale consummation, with additional milestone payments potentially reaching $30 million [1][2]