09:08 AM EDT, 04/12/2024 (MT Newswires) -- Adaptimmune Therapeutics plc ( ADAP ) said Friday that its Adaptimmune Ltd. unit has received a notice of termination of the strategic collaboration and license agreement with Genentech and F. Hoffman-La Roche.

Under the agreement, which was signed in 2021, Genentech and Adaptimmune worked together to develop two types of allogeneic T-cell therapies, with Adaptimmune getting upfront payments of $150 million and milestone payments of $35 million, Adaptimmune said.

After the termination date, which is 180 days after the receipt of the termination notice, Adaptimmune won't receive any further milestones or other payments due, the company said.

Adaptimmune shares were down 3.1% in recent Friday premarket activity.

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