Adaptimmune Sells Off Cell Therapies in Deal Worth Up to $85 Million to Address Solvency Concerns

Adaptimmune, a cancer cell therapy developer, is selling its approved medicine Tecelra and two late-stage assets to US WorldMeds in a deal worth up to $85 million. The company, which has been struggling with solvency concerns, will retain two T cell directed therapies in preclinical studies. The deal includes employee transfers and cuts the company's workforce by 62%.

Adaptimmune, a leading developer of cancer cell therapies, has entered into a strategic partnership with US WorldMeds (USWM) to sell its FDA-approved Tecelra and two late-stage assets. The deal, valued at up to $85 million, includes a cash payment of $55 million and potential additional biobucks for regulatory and commercial milestones. This transaction aims to address Adaptimmune's financial challenges and secure its future.

The agreement, disclosed on July 28, 2025, includes the transfer of intellectual property, product rights, regulatory authorizations, and other related assets to USWM. The pharma will also offer employment to approximately half of Adaptimmune's workforce, with the remaining employees facing potential layoffs. As of Dec. 31, 2024, Adaptimmune had 506 employees, indicating that around 253 employees may retain their positions [1].

Under the terms of the deal, USWM will gain the rights to Tecelra, the first engineered cell therapy for a solid tumor to receive FDA approval, as well as the late-stage assets lete-cel, afami-cel, and uza-cel. These assets are part of Adaptimmune's pipeline, with Tecelra being the company's most significant commercial success to date. The $55 million payment will be used to settle Adaptimmune's debt with Hercules Capital, and the company will retain the rights to its preclinical assets [1].

Adaptimmune's CEO, Adrian Rawcliffe, stated that securing this strategic option was critical for maximizing value for stakeholders and ensuring the continued availability of Tecelra. USWM's CEO, Breck Jones, expressed his commitment to carrying forward Adaptimmune's work in the cell therapy space, highlighting the potential of the acquired therapies to bring hope and innovation to patients [1].

Following the deal, Adaptimmune plans to reduce its workforce by 62%, with most layoffs expected to occur during the third quarter of 2025. The company's Chief Medical Officer, Elliot Norry, M.D., and Chief Commercial Officer, Cintia Piccina, will exit the company on Aug. 8, while Chief Scientific Officer, Joanna Brewer, Ph.D., and Chief Financial Officer, Gavin Wood, will lose their roles as of Aug. 31 [1].

This strategic move follows Adaptimmune's previous cost-saving measures, including a 29% workforce reduction announced in November 2024 and the termination of a $3 billion biobucks partnership with Roche's Genentech in April 2024. Despite these challenges, Adaptimmune has secured a $665 million deal with Galapagos for uza-cel, a MAGE-4A TCR T-cell therapy [1].

References:
[1] https://www.fiercebiotech.com/biotech/adaptimmune-sells-4-cell-therapies-pharma-55m-plans-layoffs