Imugene partners with Kincell Bio; selling cell therapy manufacturing facility for $6 million | News Direct

Imugene partners with Kincell Bio; selling cell therapy manufacturing facility for $6 million

News release by IMUGENE LIMITED

facebook icon linkedin icon twitter icon pinterest icon email icon Melbourne, Victoria | April 16, 2024 12:00 PM Eastern Daylight Time

Imugene Ltd (ASX:IMU) managing director and CEO Leslie Chong sits down with Proactive’s Jonathan Jackson to discuss the strategic partnership the company has formed with Kincell Bio, LLC that involves the sale of Imugene's Current Good Manufacturing Practice (CGMP) compliant cell therapy manufacturing facility in North Carolina. This agreement is set to bolster both companies' positions in the immunocellular therapy market.Kincell Bio will acquire the facility with a total investment of up to US$6 million, which includes upfront and milestone-driven payments over the next three years. This acquisition will enable Kincell Bio to expand its manufacturing capacity and continue providing high-quality development and manufacturing support.As part of the deal, Imugene will transfer process and analytical development activities of its Azer-cel to Kincell Bio, streamlining operations and focusing on clinical supply for ongoing trials. This move is expected to bring substantial financial efficiencies for Imugene, with anticipated savings of US$32 million in staff costs, manufacturing efficiencies and overheads over three years. Additionally, the restructuring will result in a 50% reduction in staff but extend Imugene's cash runway to 2026.Chong explains the implications of this partnership and how it benefits upcoming inflection points



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Proactive Investors


Jonathan Jackson


+61 413 713 744

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