Adaptimmune sells cell therapy assets to US WorldMeds for $55M cash plus $30M milestones

Adaptimmune Therapeutics PLC

Sold TECELRA, lete-cel, afami-cel, uza-cel to US WorldMeds subsidiary; $55M upfront, up to $30M in milestones.
Hercules Capital loan of $29.1M paid off, terminating the Loan and Security Agreement.
Pro forma net gain on sale estimated at $134M after tax; FY2024 pro forma net income of $159.6M vs prior loss.
Milestones: $5M on lete-cel BLA acceptance, $10M on FDA approval, up to $5M on TECELRA revenue thresholds.
Pro forma cash increases to $91M from $41M; equity turns positive to $96.7M from negative $37.4M.

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