The stock for stock transaction will see Adaptimmune shareholders own 75% of the combined company, which will target solid tumors.

The deal, which is expected to close in the second quarter of 2023,  sees Adaptimmune and TCR² Therapeutics merge to create a cell therapy company for solid tumors through the use of their respective technology platforms.

“This strategic combination brings together two culturally aligned companies at the forefront of the field to create a preeminent cell therapy company for solid tumors, which represent a substantial market opportunity largely unaddressed by cell therapies,” a spokesperson for Adaptimmune told BioProcess Insider.

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The company will operate under the Adaptimmune name and TCR² stockholders will own 25% of the combined firm. According to both parties, the merger will enable advanced clinical development and product delivery supported by Adaptimmune’s Specific Peptide Enhanced Affinity Receptor (SPEAR) T-cell technology and TCR²’s TRuC T- cell platform. Additionally, both technologies can be used in the combined company’s allogeneic platform.

Adaptimmune’s SPEAR T-cell technology is based on the affinity enhancement and works by engineering T-cell receptors (TCRs) to then target solid tumor-specific peptide. TCR²’s TRuC T-cell technology is antibody-based and has a binding domain fused to TCR subunits to reprogram a TCR complex that can identify tumor surface antigens.

“The combined company will possess two clinically validated and complementary platforms in SPEAR and TRuC T-cells enabling engagement of both intracellular targets (with SPEAR) and extracellular targets (with TRuC), thus broadening the potential number of addressable cancers,” the spokesperson said.

The merged firm will use T-cell therapies targeting MAGE-A4 and mesothelin. Moreover, there is a preclinical pipeline that will initially focus on PRAME and CD70.

Current Adaptimmune CEO, Adrian Rawcliffe, will become the CEO of the combined company. TCR²’s current CEO, Gary Menzel will be part of the board of directors.

“Other management team and details regarding employees for the combined company will not be available until the integration process is complete and the agreement has closed,” said the spokesperson.