Biotech firm Immunocore, which traces its roots to Oxford spin-out Avidex, has signed a pre-clinical milestone payment deal with pharmaceutical giant GlaxoSmithKline (GSK) worth £142m ($212m) to develop the next-generation of cancer-fighting drugs.

In addition, GSK will pay up to £200m ($300m) in development and commercial milestone payments for each product that reaches the market.

The deal comes a week after the Oxford-based firm entered into a research collaboration and licensing agreement with Genentech, a subsidiary of Swiss pharma firm…

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.

Not sure if you have a subscription?