The Mainz-based company will hold the exclusive worldwide development and marketing rights to all immunotherapies resulting from the cooperation.
(Photo: dpa)
Frankfurt Biontech plans to work with UK-based Crescendo Biologics to develop immunotherapies to treat cancer and other diseases. As part of the partnership, Crescendo will receive an upfront payment of $ 40 million from Biontech, and the company will receive success-based milestone payments totaling more than $ 750 million.
Biontech will hold the exclusive worldwide development and marketing rights to all immunotherapies resulting from the cooperation, as the Mainz biotech company announced on Monday. Crescendo in turn receives license fees on sales of the products.
The collaboration is initially planned for three years. “The Crescendo platform offers excellent properties for opening up new target structures and combinations. We see great potential in this to develop multi-specific mRNA and programmable cell-based therapies for a number of diseases, ”said Biontech boss Ugur Sahin.
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