Adaptimmune to sell cell therapies to US WorldMeds, reduce workforce by 62%

Adaptimmune Therapeutics has entered into a definitive agreement for the sale of four cell therapies, including Tecelra — the first engineered cell therapy for a solid tumor cancer to win FDA approval — to US WorldMeds.

In connection with the transaction, US WorldMeds intends to offer employment to approximately half of Adaptimmune’s workforce. Adaptimmune will then reduce its remaining workforce by approximately 62%, the company said in an SEC filing.

Under the terms of the asset purchase agreement, US WorldMeds will purchase the Tecelra, uza-cel, afami-cel and lete-cel cell therapy assets and all related intellectual property rights. Adaptimmune will receive $55 million in cash as well as future payments of up to $30 million upon the achievement of certain milestones.

US WorldMeds plans to bring lete-cel, an engineered TCR T-cell therapy targeting the solid tumor antigen NY-ESO-1, to market and will continue development of uza-cel in head and neck cancer in collaboration with Galapagos. Adaptimmune will retain rights to its preclinical assets including PRAME, CD70, and its allogeneic program. 

Tecelra was granted accelerated approval in August 2024 for the treatment of advanced MAGE-A4+synovial sarcoma in adults with certain HLA types who have received prior chemotherapy, marking the first new treatment for synovial sarcoma — a rare cancer that develops in soft tissues — in over a decade.

Since then it’s been rough goings for Adaptimmune, who slashed headcount by 29% earlier this year, as part of a $300 million cost savings plan. In its annual report in shared in March, the company disclosed that there was “substantial doubt” about its ability to continue operations.