Medigene Receives Historic $3 Million Payment from 2seventy Bio

Medigene AG, an immuno-oncology company focused on the development of differentiated, T Cell Receptor engineered T cell (TCR-T) therapies, announced on Jan. 18, 2023, that it has received a $3 million payment from partner 2seventy bio as a part of its T cell receptor agreement in cancer immunotherapy, which may lead to further historical payments in the future.

This payment comes after the strategic alliance between 2seventy bio and JW Therapeutics with a focus on the development of 2seventy bio’s MAGE-A4 program, which services a highly potent TCR discovered in collaboration with Medigene’s proprietary end-to-end technology platform.

Recently, 2seventy bio announced the initiation of a strategic partnership with JW Therapeutics aiming at the collaboration being the development of 2seventy bio’s MAGE-A4 cell therapy in mainland China, Hong Kong, and Macao.

“We are delighted that Medigene’s partnership with 2seventy bio has led to the progress of cell therapies in China through 2seventy bio’s strategic alliance with JW Therapeutics,” said Selwyn Ho, PhD, chief executive officer of Medigene, in a press release. “This alliance, and recent milestone payment to Medigene, further validate our end-to-end technology platform and its potential to deliver differentiated, best-in-class TCRs. We look forward to the commencement of the MAGE A-4 TCR program in mainland China, Hong Kong, and Macao, and the benefits this could mean for patients.”

“We are excited about the ability to accelerate the development of the MAGE-A4 program; made possible in part by the important contributions of our collaboration with Medigene,” said Steve Bernstein, chief medical officer of 2seventy bio, in a press release. “This is a powerful program, supported by our collective areas of expertise and designed to create potentially transformative treatments for patients with solid tumors.”

This recent payment does not alter guidance on the cash runway of Medigene, which is based on current planning into Q4 2024.

Source: Medigene