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Cellectis S.A. (CLLS) Servier exercises and signs exclusive worldwide licensing option for immunotherapy candidate UCART19. CLLS is UP +2.415 or +$0.87 to $37.00 in the pre-market

November 19, 2015 8:02am

While also entering exclusive global license and collaboration agreement with Pfizer (PFE) to co-develop and commercialize therapy

Cellectis (CLLS) and Servier signed an amendment to their existing collaboration agreement from February 2014 especially for UCART19, a TALEN gene-edited allogeneic Chimeric Antigen Receptor T-cell immunotherapy. Under this amendment, Servier early exercises its option to acquire the exclusive worldwide rights to further develop and commercialize UCART19, which is about to enter P1 development for chronic lymphocytic leukemia and acute lymphoblastic leukemia.

The Bottom Line; Cellectis will receive from Servier a payment of $38.2 M upon signature. In addition, Cellectis is eligible for over $300 M of milestone payments, R&D financing, and royalties on sales from Servier, based on annual net sales of commercialized products. Financial terms for the Servier agreement with PFE were not disclosed.

In addition, PFE and Servier have entered into an exclusive global license and collaboration agreement to co-develop and commercialize UCART19.

Under the terms of the agreement, Pfizer and Servier will work together on a joint clinical development program for UCART19 and share development costs. Pfizer will be responsible for potential commercialization of UCART19 in the US, and Servier will retain marketing rights in countries outside the United States. PFE's collaboration with Servier on UCART19 is distinct from the collaboration with Cellectis that Pfizer announced in June 2014, which did not include UCART19.

CLLS closed UP +$0.61 to $36.13, I have been anticipating a Pharma deal (<n past reporting>. CLLS is UP +2.415 or +$0.87 to $37.00 in the pre-market

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