Immutep shares surge 26.03% intraday after strategic collaboration with Dr. Reddy's secures $20M upfront and $349.5M milestones.

Immutep surged 26.03% intraday following the announcement of a strategic collaboration with Dr. Reddy’s Laboratories, granting the latter exclusive rights to develop and commercialize eftilagimod alfa (efti) in all countries outside North America, Europe, Japan, and Greater China. Under the agreement, Immutep received a $20 million upfront payment and is eligible for up to $349.5 million in regulatory and commercial milestone payments, plus double-digit royalties on sales. The partnership, which retains Immutep’s rights in key markets and global manufacturing control, underscores efti’s potential as a first-in-class immunotherapy in pivotal trials for non-small cell lung cancer and other indications. The substantial upfront payment and future milestone potential, coupled with efti’s Fast Track designation and broad therapeutic applications, drove immediate investor optimism about Immutep’s revenue and value creation prospects.