Based on the agreement, Immunocore will get up to £142m in pre-clinical milestone payments across the targets and £200m in development and commercial milestone payments, including up to double digit royalties, for each product that reaches the market.
Besides initial clinical trials in patients, Immunocore will be accountable for all of the pre-clinical development, while GSK will be responsible for the remaining development and commercialization of the products.
Using the power of T Cell Receptors (TCRs), the drugs ImmTACs recognise intracellular changes that occur during cancer or viral infection.
According to the company, the most advanced ImmTAC drug, IMCgp100, is currently in Phase I/II clinical trials in the UK and US for the treatment of melanoma.
Set up in 2008, Immunocore operates as a privately owned, clinical-stage biotechnology company, which is engaged in developing an innovative platform technology that generates ImmTACs.