TG Therapeutics Acquires Worldwide License Agreement For Precision's Cell Therapy Program

(RTTNews) - TG Therapeutics, Inc. (TGTX) announced on Tuesday that it has acquired a worldwide license to Precision BioSciences, Inc.'s Azercabtagene Zapreleucel (azer-cel) program.

This program constitutes an allogeneic CD19 CAR T cell therapy program that is primarily intended to be used for treating autoimmune diseases and all other non-oncology indications.

Under this agreement, TG Therapeutics has been granted exclusive worldwide rights to develop and commercialize azer-cel in non-oncology indications. In exchange for this license, Precision will receive upfront and potential near-term payments that have been valued at approximately $17.5 million.

The company has also set a target date of mid-2024 to file for investigational new drug (IND) status.