Amgen (NASDAQ:AMGN) and TScan Therapeutics (NASDAQ:TCRX) are joining forces in a multi-year partnership aimed at discovering new treatments for Crohn’s disease. TScan’s innovative TargetScan platform will be used to identify specific antigens that T cells recognize in patients with the disease. TScan will receive a $30 million upfront payment, and the collaboration could result in over $500 million in milestone achievements, along with royalty payments.
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The partnership focuses on finding unique drug targets, which could lead to new and effective treatments for those struggling with Crohn’s disease. Amgen will handle the development and commercial aspects of any treatments discovered during this collaboration, and the partnership may also explore treatments for ulcerative colitis in the future. The goal is to improve patient outcomes by utilizing TScan’s technology in partnership with Amgen’s expertise and resources.
A look at the past five trading days for TCRX stock highlights the level of impact today’s news had on it. Indeed, shares jumped over 125% at the time of writing. As a result, investors are now up 118.03% during this timeframe.
