Investing.com -- Adaptive Biotechnologies Corp (NASDAQ:ADPT) stock rose 4.3% in Monday premarket trading following the announcement of two non-exclusive agreements with Pfizer Inc (NYSE:PFE) that could be worth up to $890 million.
The commercial stage biotechnology company revealed a target discovery agreement to identify disease-specific T-cell receptors (TCRs) in rheumatoid arthritis and a data licensing agreement for Pfizer to access Adaptive’s proprietary TCR-antigen datasets for research and development in multiple immunology applications.
Under the rheumatoid arthritis agreement, Adaptive will lead target discovery activities to identify disease-specific RA TCRs, while Pfizer will handle all development and commercialization of therapies identified through this work. Adaptive will receive an upfront payment and may be eligible for additional payments in data delivery, development, commercial, and sales milestones potentially totaling up to $890 million.
The second agreement involves Pfizer licensing certain Adaptive TCR-antigen data to develop and train AI and machine learning models for accelerating research and drug discovery across multiple disease areas. For this non-exclusive, multi-year data access agreement, Adaptive will receive an upfront payment and potential future annual licensing fees, though specific financial terms were not disclosed.
Adaptive has generated what it describes as the largest and highest quality TCR-antigen binding dataset compared to what is publicly available, which can potentially inform discoveries across immunology programs.
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