PHILADELPHIA - Adaptimmune Therapeutics plc (Nasdaq: ADAP), a leader in cell therapy to treat cancer, today reported financial results for the fourth quarter and year ended December 31, 2020, and provided a business update.

'We are building the cell therapy company of the future for people with cancer. With our '2-2-5-2' by 2025 strategic plan, we will deliver value with marketed SPEAR T-cell products starting with ADP-A2M4 for people with synovial sarcoma,' said Adrian Rawcliffe, Adaptimmune's Chief Executive Officer. 'We completed enrollment in our SPEARHEAD-1 trial in approximately 12 months to support our first BLA, which is strong evidence of our ability to execute rapidly. We are focusing the SURPASS trial, using our next-generation ADP-A2M4CD8 product, on lung, gastroesophageal, head and neck, and bladder cancers to identify new indications to take forward to late-stage development.'

Planned 2021 data updates1

SPEARHEAD-1 trial with ADP-A2M4 for people with synovial sarcoma

June: preliminary data at American Society of Clinical Oncology (ASCO)

November: full update at Connective Tissue Oncology Society (CTOS)

SURPASS Phase 1 trial with ADP-A2M4CD8 (next-generation product targeting MAGE-A4)

September: update at European Society for Medical Oncology (ESMO)

Additional clinical updates

September: update at International Liver Cancer Association (ILCA) conference for ADP-A2AFP Phase 1 trial for people with liver cancer

October: update at American Society for Radiation Oncology (ASTRO) for radiation sub-study of the ADP-A2M4 Phase 1 trial2

November: ADP-A2M4 translational data update at Society for Immunotherapy of Cancer (SITC)

'2-2-5-2' by 2025 strategic plan

At an Investor Day held in November 2020, the Company outlined its '2-2-5-2' by 2025 strategic plan encompassing: '2' - Two marketed products targeting MAGE-A4

Estimated potential addressable population in tumor types with significant MAGE-A4 expression, factored for HLA-A23, is 39,000 patients per year in the US and EU

Durable responses in synovial sarcoma - on track to file a Biologics License Application (BLA) for ADP-A2M4 in 2022

The first commercial opportunity for SPEAR T-cells targeting MAGE-A4 will be in synovial sarcoma with plans to file a BLA in the US in 2022

In 2020, the Company received positive endorsements from regulatory authorities with Regenerative Medicine Advanced Therapy (RMAT) designation and Orphan Drug Designation (ODD) in the US, and access to PRIority MEdicines (PRIME) regulatory support and ODD in the EU

Data from the Phase 1 trial with ADP-A2M4 (presented at CTOS 2020)

In 16 patients with synovial sarcoma, there was an Overall Response Rate of 44% and a Disease Control Rate of 94%

Responses were durable with a median duration of response of 28 weeks with ongoing responses beyond 72 weeks in two patients (median overall survival had not been reached)

These data are considerably superior4 to response rates observed with available second line therapies in synovial sarcoma

SURPASS-2 in esophageal and esophagogastric junction (EGJ) cancers in 1H 2021

The Company will initiate a Phase 2 trial, SURPASS-2, with ADP-A2M4CD8 (next-generation SPEAR T-cells targeting MAGE-A4 that co-express CD8 intended to increase potency) for patients with esophageal or EGJ cancers in 1H 2021

SURPASS-2 is supported by encouraging data from the Phase 1 SURPASS trial (presented at SITC 2020) with one confirmed partial response (PR) in a patient with EGJ cancer and tumor reductions in two additional patients (1 with esophageal and 1 with EGJ cancer)

The trial will be conducted at multiple centers in North America and the EU, and is intended to enroll 45 people with esophageal or EGJ cancers to be treated with doses up to 10 billion SPEAR T-cells

The Company also presented preclinical data at SITC 2020 indicating that AKT inhibition during the manufacture of SPEAR T-cells results in a more consistent expansion and phenotype of the final product. This process is currently being used for the Phase 1 SURPASS trial.

'2' - Two additional BLAs for SPEAR T-cell products

Adaptimmune's Phase 1 SURPASS trial with ADP-A2M4CD8 continues to enroll patients, focusing on lung, gastroesophageal, head and neck, and bladder cancers - indications for which the Company has reported responses or signs of efficacy with its MAGE-A4 targeted products

In 2020, Adaptimmune initiated SPEARHEAD-2 with its first-generation SPEAR T-cells targeting MAGE-A4 in combination with pembrolizumab for people with head and neck cancers

The Phase 1 trial with ADP-A2AFP for people with liver cancer is ongoing. As presented at ILC 2020, nine patients were treated as of the data cut-off and best responses were: One patient with a complete response, one with stable disease (SD), and two with progressive disease (PD) among the four patients who received 5 billion or more SPEAR T-cells

Five patients with SD who received doses of 100 million and 1 billion SPEAR T-cells in the first two dose cohorts

'5' - Five new autologous products in the clinic

Adaptimmune has a deep preclinical pipeline from which it expects to bring five new products into the clinic.

These include multiple possibilities for next-generation autologous SPEAR T-cells such as: DP-A2AFP SPEAR T-cells co-expressing CD8

ADP-A2M4 SPEAR T-cells co-expressing IL-7, IL-15, dnTGF, and/ or PDE7

Enhancing SPEAR T-cells with IL-7 for proliferation and survival and CCL19 for migration into tumor in collaboration with Noile-Immune Biotech, Inc.

Enhancing SPEAR T-cells using transmembrane and surface immunoregulatory mechanisms with Alpine Immune Sciences, Inc.

The Company is also developing new products, including: Expanding into HLAs beyond HLA-A2 to increase the addressable patient population

HLA-independent TCR (HiT) candidates for multiple targets including GPC3

A new program for next-generation TILs co-expressing IL-7 in melanoma in collaboration with leading TIL therapy center (CCIT, Denmark)

'2' - Two allogeneic products in the clinic

In January 2020, Adaptimmune announced it had entered into an agreement to co-develop and co-commercialize stem-cell derived allogeneic cell therapies with Astellas

The first target nominated is a HiT targeting mesothelin

At ASGCT 2020, Adaptimmune presented data with evidence of its allogeneic platform demonstrating differentiation of functional T-cells from human-induced pluripotent stem cells (hiPSCs) that can kill MAGE-A4 expressing target cells in vitro -targeted to become the Company's first allogeneic product in the clinic

Corporate updates from 2020

Despite the impact of the COVID-19 pandemic on the biotechnology industry, Adaptimmune continued to see improved enrollment in its clinical trials

In Q1, the Company received an upfront payment of $50 million from Astellas. The Company is also entitled to receive research funding of up to $7.5 million per collaboration target per year

Underwritten public offering in Q1 generated net proceeds of approximately $90 million

Underwritten public offering in Q2 generated net proceeds of approximately $244 million

About Adaptimmune

Adaptimmune is a clinical-stage biopharmaceutical company focused on the development of novel cancer immunotherapy products for people with cancer. The Company's unique SPEAR (Specific Peptide Enhanced Affinity Receptor) T-cell platform enables the engineering of T-cells to target and destroy cancer across multiple solid tumors.

Forward-Looking Statements

This release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA). These forward-looking statements involve certain risks and uncertainties. Such risks and uncertainties could cause our actual results to differ materially from those indicated by such forward-looking statements, and include, without limitation: the success, cost and timing of our product development activities and clinical trials and our ability to successfully advance our TCR therapeutic candidates through the regulatory and commercialization processes. For a further description of the risks and uncertainties that could cause our actual results to differ materially from those expressed in these forward-looking statements, as well as risks relating to our business in general, we refer you to our Quarterly Report on Form 10-Q filed with the SEC on November 5, 2020, and our other SEC filings. The forward-looking statements contained in this press release speak only as of the date the statements were made and we do not undertake any obligation to update such forward-looking statements to reflect subsequent events or circumstances.

Total Liquidity (a non-GAAP financial measure)

Total Liquidity (a non-GAAP financial measure) is the total of cash and cash equivalents and marketable securities (available-for-sale debt securities). Each of these components appears separately in the consolidated balance sheet.

Contact:

Sebastien Desprez

Tel: +44 1235 430 583

Email: Sebastien.Desprez@adaptimmune.com

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