Drugs giant AstraZeneca has unveiled a deal with British biotech company Immunocore to develop new cancer treatments that use the body’s immune system.
Under the agreement, Immunocore will get $20 million (£12.1 million) from Astra’s MedImmune unit for each programme it takes on. The Oxford-based company will also be eligible for development and commercial milestone payments, up to $300 million for each programme, as well as royalties.
Analysts believe the immunotherapies market could generate tens of billions of dollars in annual sales for the pharmaceuticals industry.
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