UPDATE 1-Medigene in for up to $1.5 bln under broader pact with Bluebird Bio [Reuters]
bluebird bio, Inc. (BLUE)
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Source: Reuters
UPDATE 1-Medigene in for up to $1.5 bln under broader pact with Bluebird Bio | Reuters Reuters Staff 2 Min Read * Pact on T-cell receptors widened from 4 to 6 programmes * Up to $250 mln in milestone payments per programme * Shares up 8 pct (Adds shares, background on technology, analyst comment) By Ludwig Burger FRANKFURT, May 14 (Reuters) - German biotech firm Medigene has secured a wider remit under a collaboration with U.S. peer Bluebird Bio on a technology that boosts the immune response to cancer, increasing the pool of potential milestone payments to $1.5 billion. The number of projects in the alliance, which has Medigene contributing screening tools to identify promising T-cell receptors (TCR), will rise from four to six, Medigene said in a statement on Monday, sending its shares 8 percent higher. “If successfully developed and marketed through several indications and markets, Medigene could receive up to $250 million in milestone payments per TCR program in addition to tiered
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