PACT to Retain Core R&D Capabilities and Continue Development of Novel, Neoantigen-Targeted T Cell Therapies
AmplifyBio to Leverage Newly Acquired Assets to Enhance Cell and Gene Therapy Characterization Capabilities
SOUTH SAN FRANCISCO, Calif., Sept. 30, 2022 /PRNewswire/ -- PACT Pharma, Inc., a privately held biopharmaceutical company developing transformational personalized neoantigen-specific and off-the-shelf T cell receptor (TCR) T cell therapies for the eradication of solid tumors, today announced that it has entered into an agreement to sell select assets to AmplifyBio, a contract research organization focused on accelerating innovation across pharmaceutical modalities. Under terms of the agreement, AmplifyBio will acquire advanced characterization platforms and bioinformatics capabilities from PACT to enhance the company's cell and gene therapy characterization capabilities. Additionally, AmplifyBio will acquire PACT's South San Francisco facility along with a number of technical operations and product characterization domain experts.
Importantly, this agreement allows PACT to retain its proprietary research and development capabilities and improve its overall financial position. This will allow the company to continue its mission of developing neoantigen-targeted TCR T cell therapies for the treatment of solid tumors. The company is actively advancing its novel development programs and expects to file an Investigational New Drug application for a novel neoantigen-targeted TCR T cell therapy in 2023.
"This is an important strategic transaction for PACT and our long-term goal of developing transformative personalized TCR T cell therapies for the treatment of patients with solid tumors. The sale of these select assets to AmplifyBio provides the company with meaningful capital while reducing our operating expenses," said Scott Garland, chief executive officer of PACT Pharma. "At the same time, this agreement has the potential to help advance the field of adoptive cell therapies by allowing AmplifyBio to offer the innovative product characterization platforms developed by the PACT team to a broad range of its clients. By leveraging this platform, these clients will have advanced tools to better understand the critical immunological parameters for successful adoptive cell therapies."
PACT is a privately held biopharmaceutical company pioneering individualized and off-the-shelf, non-viral precision genome engineered, tumor-specific TCR T cell therapies for the treatment of patients with solid cancers.
For more information, please visit www.pactpharma.com.
Atulya R. Agarwal
Vida Strategic Partners (on behalf of PACT Pharma)
Tim Brons (Media)
SOURCE PACT Pharma
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