January 8, 2014 / 7:18 AM / 4 years ago

AstraZeneca signs deal on cancer drugs with Immunocore

LONDON, Jan 8 (Reuters) - AstraZeneca has signed a deal with private British biotech company Immunocore to boost its experimental cancer drug pipeline as it seeks to find new medicines to replace those going off patent.

Immunocore is developing drugs known as “ImmTACs” that exploit the power of the body’s own immune system to find and kill diseased cells.

AstraZeneca said on Wednesday its MedImmune unit would pay Immunocore $20 million upfront per programme and the biotech firm would then be eligible to get up to $300 million in development and commercial milestone payments for each target programme, plus royalties on any eventual sales.

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