Iovance Biotherapeutics, Inc. entered into a definitive agreement to acquire Worldwide rights of Proleukin of Clinigen Limited for approximately £210 million.
January 22, 2023
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Iovance Biotherapeutics, Inc. (NasdaqGM:IOVA) entered into a definitive agreement to acquire Worldwide rights of Proleukin of Clinigen Limited for approximately £210 million on January 23, 2023. Terms of the agreement include an upfront payment of £166.7 million, a £41.7 million milestone payment upon first approval of lifileucel in advanced melanoma, and double-digit Proleukin global sales royalties from Iovance to Clinigen. Iovance is financing the acquisition with existing cash. In addition, Iovance has agreed to terms for a secured line of credit of up to $100 million from Quogue Capital. These proceeds are expected to fund the acquisition of Proleukin and Iovance's operating plan well into 2024. Greenhill & Co. International LLP acted as financial advisor and White & Case LLP acted as legal advisor to Clinigen Limited.
The transaction is expected to close in the first quarter of 2023, subject to required regulatory approvals and clearances and other customary closing conditions. Jefferies Financial Group Inc. (NYSE:JEF) acted as financial advisor to Iovance Biotherapeutics, Inc. (NasdaqGM:IOVA). Ben Brown, Arthur Cohn, Marco de Morpurgo, Helen Hall, Christopher Halliday, Stephan Harris, Nicola Landolfi, Christopher Mikson, Andrew Phillips and Emilio Ragosal of
Iovance Biotherapeutics, Inc. is a clinical-stage biopharmaceutical company. The Company develops and delivers tumor infiltrating lymphocyte (TIL), therapies for patients with solid tumor cancers. Its lead product candidate, Amtagvi (lifileucel), is a tumor-derived autologous T cell immunotherapy indicated for the treatment of adult patients with unresectable or metastatic melanoma previously treated with a PD-1 blocking antibody, and if BRAF V600 mutation positive, a BRAF inhibitor with or without a MEK inhibitor. The Company also marketing Proleukin (aldesleukin), aninterleukin-2, or IL-2, product used in the Amtagvi treatment regimen. Its development pipeline includes multicenter trials of TIL cell therapies in additional treatment settings for solid tumor cancers. Amtagvi and Proleukin are part of a treatment regimen that also includes lymphodepletion. The Company is also developing next generation therapies using TIL, such as genetically modified TIL cell therapy.
Iovance Biotherapeutics, Inc. entered into a definitive agreement to acquire Worldwide rights of Proleukin of Clinigen Limited for approximately £210 million.
IOVANCE BIOTHERAPEUTICS, INC. 
