Autolus Therapeutics Plc (AUTL) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Autolus Therapeutics entered a significant License and Option Agreement with BioNTech, granting an exclusive worldwide license for certain products and the potential for substantial financial gain, with up to $582 million in aggregate payments, including upfront fees, milestones, and royalties. BioNTech will make initial payments of $10 million and support the expansion of obe-cel, Autolus’ lead product candidate, with a $40 million upfront payment. Additionally, the agreement covers options for BioNTech to negotiate joint manufacturing and commercial services, enhancing the synergy between the two companies. Concurrently, BioNTech purchased American Depositary Shares in Autolus for $200 million, with further investment contingent on future collaboration, highlighting the strategic nature of this alliance.
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For a comprehensive understanding of the announcement, you can read the full document here.
